The Paul Day of Network Consulting Services provided information freedom (FOI) to FCA in November, which shows that the mortgage consultants directly authorized in the past four years have fallen significantly.
The date of sending to the FCA includes the application of each license (investment and pension; mortgage and family finance and consumer credit and insurance in the past five years. Essence
A response related to mortgage and house financing showed that from 442 people in 2020 to 132 in 2024.
The further question date sent to the FCA is “What are the total number of individuals who can provide a mortgage proposed person (including CPD20 & CPD21)?”
The response is that the total number of personal CPD20 -recommendation or arrangement of regulatory mortgage contracts and/or active CPD21 -recommendation or arrangement of all authorized companies’ equity release transactions to participate in the 35,263 of 2024 (data, January 2025, in January 2025 14th data.
Compared with six years, the number of the 2024 also showed a significant decline, especially the number of consultants in 2023 was 36,836. 36,377 in 2021 and 36,377 in 2020.
FCA’s basic data 2024 will be released in August 2025)
“Digital Day” commented: “We have seen the mortgage consultants in all areas of the industry relatively stable, including DA and AR between 2019 and 2023.
“However, 4.3 % from 2023 to 2024 has decreased. In the past three years, the number of consultants in the network (designated representative) has been stable, so it can be fairly assumed that the decline can be attributed to direct authorization. space.
DA number
After checking the number of new companies applied for in the past five years, Dai said that this is obvious that the mortgage and protection companies seek direct authorized mortgage loans and protection companies have significantly declined. Indeed, last year, compared with the new company in 2020, the new company was less than 30 %.
“For this reason, there will be many contributions, but I suspect that these two main factors are changes in the introduction of consumer duties and application processes, which makes it more difficult than before.
“This is a guess of educated, but we need to talk to all possible DAs. These DA have made this move fully understand this.”
Mortgage strategy I really want to hear your comments.
