Financial Conduct Authority  

FCA looks for mortgage adviser to join small business panel

FCA looks for mortgage adviser to join small business panel
The FCA's headquarters in Stratford

The Financial Conduct Authority has a vacancy open for a mortgage adviser on its smaller business practitioner panel.

The City watchdog is also looking for a specialist in environmental, social, and corporate governance to join the panel, complementing the launch of its new ESG advisory committee.

The FCA smaller business practitioner panel gives industry members an opportunity to alert the regulator to issues which smaller businesses might feel are likely to be of major significance or controversy.

Article continues after advert

Those keen to apply to join the panel have until October 2 to send in their CV and a cover letter.

Appointments are made by the FCA board for a term of three years. Members are paid £10,000 per annum, reflecting a commitment of around 15 days a year.

The mortgage market has struggled in the past few months. At least eight lenders - largely specialists - have had to step out of the market temporarily just to catch up with the volume of applications being submitted.

Volume has been driven in large part by rising interest rates as a result of successive base rate rises.

Meanwhile, for borrowers the cost of homeownership is climbing. While house price growth is predicted to fall back from double digits to 2 per cent next year, mortgage interest rates are reaching levels not seen since February 2013.

Many brokers feel the government needs to step in now and do something to ease the cost barriers in front of getting on the housing ladder. Some have suggested a change to the stamp duty brackets which could save first-time buyers thousands.

Meanwhile, the FCA has increased its focus on ESG following the Treasury’s wish for the FCA to "have regard" for the government’s commitment to a net zero economy by 2050 in all its regulatory activities.

The regulator said earlier this week it was looking for “a small number of external experts who have in-depth knowledge of ESG issues in the financial sector” to join its new advisory committee.