Sarah Wilson, Director of the FSA's High Street Firms Division said:
"The discount period for early applications from mortgage firms seeking direct authorisation ends on 31 March.
"Firms can make real savings by taking advantage of the discount that we are offering on early applications. For example, small firms submitting electronic applications will pay just £500 compared with the standard fee of £1,100.
"But firms that don't catch the discount period, should not worry that they have missed the boat. We will, of course, be continuing to accept completed applications after 31 March."
Those firms seeking authorisation for both mortgage and general insurance business should work to the application deadlines for mortgages.
For relevant, impartial information on the choices that firms face ahead of mortgage and general insurance regulation and for details of FSA workshops visit www.fsa.gov.uk/mgi or ring the FSA's dedicated contact centre on 0845 60 55 25.
