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I know the answer to one potential DA becoming an AR.

I've a friend who is a broker who wanted to go DA. He does a bit of residential but most is Ltd .Co BTL and he approached a well-known mortgage club to help him with his DA application.

They took the initial fee which was non-refundable and gathered all the information and then told him he must do 60 residential applications per year to satisfy the FCA. As there was no way he was going to do this he went and became an AR.

I queried this with the FCA and they told me they had no such criteria. It was clearly a mortgage club inventing criteria to make sure they got a certain type of business.

 

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