Small firms applying early and electronically get a £600 reduction off the standard £1,100 fee.
FSA spokeswoman Kate Bristowe, said: “The numbers are heading in the right direction and we are expecting more as the first deadline approaches.”
Chris Cummings, director of the Association of Mortgage Intermediaries (AMI) agreed and said he did not think the number of firms who had handed their application forms in was low.
“It is not until you start going through the form that you realise how hard it is. The fact many firms have not completed applications shows they are engaging in the process and taking it seriously,” he commented
