FCA Consultation on Fees & Levies for 2024/25

Members may have seen that the FCA issued their annual consultation on the fees charged to firms on Tuesday 9th March – AMI comments…

Consumer Duty has made vulnerability about ‘characteristics’ rather than ‘binary’

Chloe Timperley’s comments from the British Specialist Lending Senate 2024 regulatory expectations around vulnerability…

Your March update from AMI Chief Executive Robert Sinclair

AMI Chief Executive Robert Sinclair gives his March update, including the Mortgage Charter and the FCA annual business plan…

Sexism in the City feedback: recommendations for firms

The feedback report for the September Sexism in the City paper has been released. We are cited in the report, relating to our event code of conduct…

AI will not replace ‘divergent or creative’ thinking

Chloe Timperley’s comments from the British Specialist Lending Senate 2024 on generative AI and regulatory expectations around vulnerability…

Mortgage Brokers: The climate is changing, should you?

The Mortgage Climate Action Group (MCAG) is delighted to invite you to its upcoming webinar: ‘The Climate is Changing, Should You?’ on 18th March at 10am…

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Due to lengthening pipelines, there is an increased likelihood that where mortgage offers are extended, the valuation connected to the mortgage may have expired/is due to expire at an earlier date.

Firms should be mindful of this and may wish to monitor mortgage valuation expiry dates on offers that have been extended. Firms may also wish to consider making the customer aware that the offer may lapse without a new valuation.

Whilst we’re aware that mortgage intermediary firms tend not to hold valuation information and firms have different approaches, the outcome of a recent FOS case (FOS reference: DRN-3348050) brought this subject to AMI’s attention. We felt it important to communicate to the wider membership.

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