AMI launches Consumer Duty Factsheets

The AMI team has been working hard over the last couple of months to create a detailed suite of member factsheets on the FCA Consumer Duty.

Our aim is help firms implement the Consumer Duty requirements by breaking down the key components, highlighting action points and flagging areas to broaden firms’ understanding and thinking.

Rather than simply distil the source material, we wanted to explore some of the sector-specific implications for mortgage intermediary firms, and prompt readers to reflect on how the theory works in practice.

The factsheets can be accessed via our dedicated Consumer Duty hub (AMI members only). We’ve broken down the factsheets into core areas to make them easier to navigate and digest. Each factsheet is in a PDF format, which you can save and share with your colleagues.

They are also accessible to our lender associate members, so that they can see the approaches we are suggesting you consider. These can be used in your discussions with them and also with insurance providers.

We’ve created the factsheets based on AMI’s analysis and interpretation after many months of reading, dissecting, thinking and discussion – both internally and with industry groups. We intend for this dialogue to continue as we move forward and refine our understanding. We’ll be adding more product-specific factsheets over the coming weeks.

They’ll also evolve as we move through the implementation period – we’ll let you know when updated versions are uploaded.

The factsheets are designed to stimulate discussion and debate within the mortgage intermediary sector, and as such we’d love to hear your thoughts and feedback by contacting [email protected].

In the meantime, we hope you find them valuable.