MAA’s Chief Executive, Phillip Ambler says: "As mortgage regulation is becoming tighter, many mortgage advisers are uncertain about their future and the options available to them. To most mortgage advisers, direct authorisation by the FSA appears to be a daunting option, not only in the areas of compliance and training and competence but also from the aspect of cost. The other option is to become a member of MAA and achieve the goal of enhanced remuneration with assistance with the hardships of compliance."
MAA are currently in negotiation with one of the UK’s leading mortgage lenders to jointly promote training and competence, and also with leading protection insurance providers Paymentshield, to gain access to the significant benefits of its mortgage network.
Phillip Ambler continues: "All mortgage advisers are in the business to make money, but this does not mean they need to compromise the service they offer. For example, selling single premium MPPI or charging outrageous fees for arranging Right To Buy mortgages are the types of conduct we will not tolerate."
Membership fees are yet to be determined and will reflect the benefits of membership. The MAAwebsite can be visited at: www.mortgage-advisers-association.co.uk
