Draft code “fair” for industry: Mortgage Room’s Fuller
Fuller, who has an AFA qualification, says he “doesn’t see anything to be afraid of with the new code” and believes the minimum qualification requirement (for a Level 5 certificate) under the code is “not un-achievable” for most mortgage advisers.
AFAs will be compliant with the new code once it comes into effect. While RFAs, who do not currently have a minimum qualification requirement, will be need to achieve a level 5 certificate.
Fuller said he broadly supported the new regime: “I did it [the AFA qualification] out of respect for my clients, to show I had put in my training. I feel it’s only fair that everyone has the same qualification. It reflects what we should be doing for our clients anyway.”
Knowledge through prior industry experience is not recognised under the draft code. Fuller said he felt sorry for seasoned mortgage advisers who have to take the Level 5 certificate to demonstrate their skills: “I do feel for some of my staff who have been in the industry for as long as I have, and have been in banking, and that experience doesn’t mean anything. But it will help them achieve their level 5,” he added.
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