The MCCB claimed that the move towards the statutory regulation of mortgage advice was facilitated by the ‘Board’s own work in establishing the first register of intermediary and lender firms active in the market, and its plans to increase standards through the compulsory professional examinations for all mortgage advisers.
Luke March, chief executive of the MCCB, said: "Our work in developing the Code and our registration of rules to provide robust consumer protection and a complementary mix of non-statutory and statutory mortgage regulation has facilitated the move towards a single regulatory structure for mortgages. We will whole heartedly play our part in making the transition period as smooth as possible, and we will work closely with the FSA and Treasury in ensuring the statutory regime delivers the right balance of consumer protection and regulation."
