Major industry organisations such as the Financial Services Authority (FSA), the Association of Mortgage Intermediaries (AMI) and Council of Mortgage Lenders (CML) were on hand at this year’s show to answer intermediaries’ questions.
Joanne Buglass from the FSA commented: “The FSA is encouraged by the positive attitude shown to regulation and was overwhelmed by visitors to its stand. Firms gave valuable feedback on how the market is coping with the new regulations.
“The FSA was pleased to correct misunderstandings and help firms with a wide range of enquiries on topical issues such as accuracy of Key Facts Illustrations (KFIs), describing fees on the Initial Disclosure Document (IDD), clarifying ‘independent’ status and explaining the introducer exemption.
“The FSA also advised a number of new start-up companies on applying for direct authorisation.”
Exhibitors ranged from large lenders and packagers to surveyors and insurance firms, bridging finance specialists and software providers.
Richard Sexton, national business development manager of e.surv, said: “It’s definitely improved again this year. The quality of visitors was excellent and we made some solid leads. There’s been a lot of uncertainty about post-‘Mortgage Day’ fall-out but we’re cautiously optimistic again because lender take up is looking good.”
Edward Goldsmith, senior partner at Goldsmith Williams, said: “Mortgage Business Expo is a worthwhile event to come to as it’s very rare in this industry to have everyone gathered in one place. It’s a marvellous opportunity to catch up with old friends and make some new ones.
“It’s been particularly interesting to hear how the dreaded ‘Mortgage Day’ went – and I’m delighted to hear that it wasn’t the end of the world.”
· Mortgage Business Expo Manchester will be taking place at the G-MAC exhibition centre on May 18 and 19 2005.
