Consultation for the FSA’s Annual Funding Requirement launched last February proposed that mortgage brokers would pay £13.43 for every £1,000 of their annual income however this has now been hiked up to £14.33.
The regulator said that the cause of the increase in fees to the A.18 fee block, which mortgage brokers fall within, was due to a 10% reduction in income tariff.
The overall AFR has been reduced by £18.6m from the proposed figure of £578.4m to £559.8m.
Mortgage brokers who fall within the A.18 fee charging block will shoulder £14m of the overall cost for the period down from the initial estimate of £14.5m and down 7.3% from the amount brokers paid to the FSA in 2011/12.
The regulator estimated there were 5,473 firms that fell within the A.18 fee block. On average each firm will pay around £2,558.
