PARLIAMENTARY WRITTEN QUESTION
(9 December 2024)
Question Asked
To ask the Chancellor of the Exchequer, what assessment she has made of the adequacy of the regulation of mortgage brokers.
Asked by:
Nick Timothy (Conservative)
Asked by:
Nick Timothy (Conservative)
Answer
The Financial Conduct Authority (FCA), which is independent of Government, is responsible for the regulation of mortgage brokers in the UK. Mortgage brokers must either be authorised by the FCA or become an appointed representative of another firm that has the relevant permissions.
The FCA is also responsible for monitoring authorised firms, including mortgage brokers, to ensure they comply with its rules and has powers to take action if necessary.
Answered by:
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