The details of the new registration process, which is being put in place in anticipation of the forthcoming implementation of the Mortgage Credit Directive, have yet to be fully disclosed.
However the regulator claims that the number of firms that need to register should be minimal with the vast majority of those operating in the market already holding either full or interim permissions.
Fees for the registration process will be set as part of the FCA’s March 2015 fees consultation but are not expected to exceed £500 for lenders or £250 for intermediaries.
