Self Employed Mortgage Broker
Regulation of the mortgage market has increased in line with the overall trend of consumer protection. It is generally felt that hitherto the mortgage market has been under-regulated.

The financial scandals of the 1980s resulted in much tighter control over the entire industry, not least the self employed mortgage broker. It also resulted in greater clarity and transparency with regard to contractual agreements, with the introduction of The Mortgage Code. However, there was still a way to go. In 1998, banks paid out £1.3 million against 12,000 customer complaints - a 35% increase over the previous year. Mortgages represent one of the biggest areas of complaint with lock-ins and high redemption costs.
The principal problem facing the self employed mortgage broker is increased market regulation. In view of current market trends, mortgage brokers are increasingly looking to operate with organisations which provide them with the requisite infrastructure, enabling them to be competitive and meet ever more stringent regulatory requirements. Consequently, Mortgage Networks, IFA Networks are taking an increasing share of the mortgage advisor market.

It does not end there as a further tightening of mortgage regulations took place from 1st November 2004, when the Financial Services Authority (FSA) took over from the Mortgage Code Compliance Board (MCCB). Because of this expansion, along with the development of e-commerce, websites and direct sales, there has never been a greater need for objective, experienced and professional personal advice. Consumers need and want objective advice to guide them through the mortgage maze. Self Employed Mortgage Brokers are taking an ever-increasing share of the market and there is a continuing shakedown within the brokerage sector, with Mortgage Networks expanding their influence.

To speak to someone online about how to become a self employed mortgage broker, phone us on Tel. 01254 686111, our lines are open 9am - 9pm Monday to Thursday and 9am - 5pm Friday. CLICK HERE - to place your enquiry about a self employed mortgage broker