What recent changes are affecting mortgage advice?
The recent directive from the Financial Conduct Authority (FCA) has raised questions about the future of mortgage advice, particularly for PKD Mortgage Network. The FCA has mandated that PKD must cease all new regulated activities and offboard its 11 appointed representatives (ARs) within 28 days.
This directive comes as PKD Mortgage Network, established in 2020 and based in Chiswick Park, London, sought to enhance its operations. However, the FCA’s action was requested by PKD itself, indicating internal challenges that necessitated regulatory intervention.
What is the significance of the Cornerstone Finance Group Expo?
In light of these changes, the Cornerstone Finance Group Expo, scheduled for March 19, 2026, at Newport’s ICC Wales, will be a pivotal event for those in the mortgage advice sector. The expo is open to members of the Cornerstone Network and invited guests, providing a platform for discussions on bridging finance and other related topics.
Signature Property Finance, a principal lender in the sector, will likely play a significant role at the expo. They specialize in non-regulated bridging and development funding, which can offer quicker financial solutions compared to traditional term facilities.
What insights can be gained from industry experts?
Industry experts emphasize the importance of understanding how bridging deals work. An unnamed speaker noted, “I want advisers to see how a deal actually works from start to finish.” This highlights the need for mortgage advisers to be well-versed in various financing options to better serve their clients.
Furthermore, the collaborative nature of unregulated bridging was underscored, with another expert stating, “Unregulated bridging is not an isolated product delivered by one firm, but a team effort.” This reflects the interconnectedness of the mortgage advice landscape.
As the expo approaches, it is crucial for advisers to recognize that many of their existing clients may already be utilizing bridging loans, even if they are not sourcing them through the adviser. One speaker remarked, “A proportion of your existing clients are already using bridging. If they are not using you for it, they are using someone else.” This serves as a reminder of the competitive nature of the market.
As the mortgage advice sector navigates these regulatory changes and prepares for the upcoming expo, the focus will remain on adapting to new challenges and opportunities. Success in this evolving landscape will depend on the strength of the teams and networks that advisers build around them, as noted by Scott Quinnell: “Success comes from the strength of the team around you.”