Despite the FSA bleating that the initiative is still strictly for the investment sector, the regulator will always be tempted to transfer it across if it proves to be a success elsewhere.
All I can hope is that the FSA takes into account the views of the industry, such as those of the Association of Mortgage Intermediaries (AMI) and the Intermediary Mortgage Lenders Association (IMLA).
Their severe trepidation about the negative impact it could have on the mortgage market only goes to show that the people who have all the real knowledge of how this sector works know this isn’t the right fit.
What the FSA needs to do now is to remove as much of the cloudiness that surrounds the issue as possible and give a cast-iron guarantee that it won’t ever be applied to the mortgage sector.
If it can’t do this, I hope it won’t mind me treating the RDR with suspicion.
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