Its poll of independent financial intermediaries shows that more than one in four thought mortgage regulation would cut their income in the months following October 31, 2004.
Some 43% believed their income would rise and 30% that their income would remain the same.
Paul Winter, Ipswich Building Society’s Director of Sales and Marketing, said: “We were surprised that only 26% thought that their income would drop as a result of new regulation. It indicates that there is a lot more positivity about the impact of the changes than is generally thought to be the case.”
Some 92% of those polled said that they were considering changing their status in respect of selling regulated products.
Of these 33% said that they were planning to become directly authorised by the FSA, 33% were planning to join a network or club, and 33% become an appointed representative.
