"MORTGAGE Day" is fast approaching and the Council of Mortgage Lenders is advising consumers to check that any mortgage adviser they plan to use will be appropriately registered to introduce mortgage business in the future.

The Financial Services Authority (FSA) will take over the statutory regulation of mortgages on November 1 and intermediaries must either be directly authorised by the FSA, or must be an appointed representative of an authorised firm, if they wish to continue submitting mortgage business to lenders from that date.

Applications through intermediaries registered with the Mortgage Code Compliance Board (MCCB) may continue to be made to lenders in October, even if the mortgage does not fully complete until after Mortgage Day. But any new applications received from November 1 onwards must be from FSA registered intermediaries only. Lenders are not allowed to accept business from unauthorised intermediaries under the FSA rules, and will not process these applications.

To avoid possible delays, consumers should check that their intermediary is an MCCB subscriber now, and will be authorised to undertake mortgage business under the new rules, before making their application.

There will be a few intermediaries whose applications have not yet been finalised by the FSA, but who will nevertheless become authorised in time. However, if an intermediary cannot show evidence it will be authorised, consumers should consider making an application through an intermediary which can give such assurance.

Michael Coogan, CML director general, said: "We know that the FSA is working very hard to ensure that even late applications for authorisation are processed in time to allow an uninterrupted flow of mortgage business.

"But consumers should be aware of the potential for disruption if their intermediary does not become authorised in time, so that they can take steps to reduce the risk of their mortgage application being delayed."