FSA to extend AP regime to individual mortgage advisers; Rules out RDR read-across

However, other proposals in its Mortgage Market Review discussion paper will see more duty of care for the overall mortgage sale passing to lenders, who will bear ultimate responsibility for assessing and verifying affordability in every sale. The regulator proposes the AP regime will extend from senior management, or those with 'significant influence' for mortgage and other home finance firms, to all other mortgage and other home finance advisers and arrangers (specifically to those who are bringing about a home finance activity). It warns the proposals are likely to carry significan...