Bill Warren, network director of Complete Mortgages & Loan Services Ltd, said: “While there may be a some older brokers who decide to leave, I think these sort of figures are alarmist.”
John Ellis, head of public affairs at the LIA, said: “We are not getting anything like that kind of feedback from brokers.”
Chief operating officer for brokers Alexander Hall, Andy Pratt, commented: “I can’t believe that anything like that number of brokers intend to leave the market. Having gone through regulation myself, as an IFA, I can understand that brokers are concerned. However at the end of the day it is all common sense.”
Brad Baker, head of communications at the MCCB, said MCCB renewals had been strong. “More than 20 per cent of our members have already applied for direct authorisation from the FSA,” he commented.
