YOUR INDUSTRY
TOP 10 HOT TOPICS
- Europe
- Retail Distribution Review (RDR)
- Treating Customers Fairly (TCF)
- Payment Protection Insurance (PPI)
- FOS/FSCS
- Homeowner Mortgage Support Scheme (HMSS)
- FSA Fees
- Credit Crunch
- Claims Management Company (CMC)
- Consumer Credit Licence (CCL)
Your Industry
Current Issues
Credit Crunch
The credit crunch has adversely affected the mortgage intermediary industry, and AMI is therefore keen to see suitable and proportionately balanced government intervention to “stabilise” the faltering housing and mortgage markets.
We were the first of the trade bodies to publish a detailed set of proposals on credit crunch solutions for the mortgage market, in the form of our 2008 White Paper “Fixing the Crunch”. The White Paper set out the causes of the credit crunch as seen by the mortgage intermediary community, established what the impact of the current turmoil would be on firms and borrowers and provided a series of starting points for addressing the market’s problems.
To read the white paper in full, please click on the following link:
A White Paper prepared by the Association of Mortgage Intermediaries
AMI has lobbied hard to ensure that our views, and those of mortgage intermediaries across the country, are heard and acted upon with Regulators, Politicians and Key Influencers.
Unfortunately the economic outlook has shown little sign of improving, and in the absence of any solid conclusions, AMI published a further research paper “The Credit Crunch – One Year On. Adapting to a Changing Mortgage Market”. The paper sets out the current situation along with AMI’s view for the future of the mortgage and housing markets and the outlook for mortgage intermediaries.
The purpose of the paper is to give firms information which may help assist them in planning their business models for the coming 18 – 24 months. AMI believe a customer-focused, advice-driven business model, rather than a volume machine is likely to serve firms well. In the future we will see a smaller, leaner industry but the remaining firms will have the best staff and will be stronger and better diversified. Diversification will be key. Last September, 71% of larger firms had activities beyond mortgage broking alone. By March, 85% did. AMI want to assist firms to make the necessary changes to survive in the new look market place.
The full research paper is available here: