As a professional mortgage adviser contemplating the best pathway to obtain regulatory approval for your firm, it's crucial to weigh up your options carefully. Regulatory compliance is not just a legal requirement, but a foundation for building trust with your clients, and ensuring the sustainability of your business. In the UK, mortgage advisers must be authorised by the Financial Conduct Authority (FCA) to provide advice on regulated mortgages. This can be achieved either by joining an existing authorised network or by obtaining direct authorisation. Each route has its distinct advantages and challenges, and understanding these can help you make an informed decision that aligns with your business goals.

We all know it, we are an ageing profession. But despite some good initiatives, the problem is worsening. I was truly shocked by a recent article that said out of 35,109 individuals authorised to give mortgage advice, only 536 are under under the age of 25. The picture is just as bleak in investment advice. More than 30% of authorised mortgage brokers are over 50, and the trend shows no signs of improvement. Unless we do something, we will have a serious advice gap as an ageing population demands more access to professional advice.

As mortgage advisers, it's essential to understand developments in the property landscape that could significantly impact your customers' home-buying journeys. National Trading Standards recently released comprehensive guidance for estate and letting agents, mandating the disclosure of detailed property information before the property is marketed. This initiative aims to ensure transparency and assist purchasers in making well-informed decisions.

Last month (February 24^th) the Financial Conduct Authority (FCA) launched a working group involving 12 lenders and administrators to ‘probe’ the interest-only mortgage market. The aim is to confirm how many borrowers currently have interest-only (or part interest-only) home loans, and establish how many of them might have difficulty repaying their mortgage in full at the end of the term, and may therefore be in need of some kind of support.