FCA propose an increase to fees for ARs

Some of you may well have read in the recent press that the FCA has issued their latest fee proposal.

In this, they have proposed the introduction of a new flat fee of £250 per Appointed Representative company per year. Along with AMI, we challenge this additional cost, which again sees the effect of poor activities in other parts of the market affecting good mortgage businesses.

Following consultation, the finalised costs will be announced in May. Whilst we will try to cushion the impact, this may result in an increase in fees to each member firm. We will of course keep you advised of any further developments and their implications in due course.

For more information please contact the Compliance Team at compliance@connectmortgages.co.uk