Apr 18 – AMI challenges FCA approach to authorisation
The FCA recently set out how it approaches authorisation. It covers several areas including how it evaluates whether firms and individuals are ‘fit and proper’ and how it believes it should be promoting competition.
Mar 18 – GDPR – your questions answered
Following your questions and comments in last month’s member survey, we have set out the FCA and ICO expectations around consent, the right to erasure and disclosure.
Mar 18 – Froth not broth
It has long been AMI’s policy position to be supportive of the FCA, but always constructively critical where we consider they either do not fully understand the market or are being impelled by others in the wrong direction. Two of our most recent policy proposal responses have been much more negative than many in some […]
Mar 18 – Reality check
The Dear CEO letter to second charge lenders made fascinating reading. Not the minor errors by one lender referred to by some commentators in the lead-up to its publication. The FCA has significant concerns, found poor practices and fears that lenders may not be lending responsibly. They found disposable income figures in applications which were […]
Mar 18 – A new Spring
As well as the usual changes to tax thresholds and allowances, there are a few other changes that will take place this Spring. 1 April As part of the government’s efforts to raise standards in the rental market it has set a new minimum level of energy efficiency for privately rented property. Landlords in England […]
Mar 18 – The right of set-off
We have produced a new factsheet to highlight two areas relating to the right of set-off, which firms may need to consider in a recommendation.
Mar 18 – SA302s
Over the last two years we have been working closely with HMRC regarding the changes in how self-employed applicants evidence their income when applying for a mortgage.
Mar 18 – Support for Mortgage Interest
Firms should be aware that Support for Mortgage Interest (SMI) is changing. From 5 April 2018 it will no longer be a benefit that can be claimed, but instead it will be paid as a loan.
Feb 18 – Making bubbles
For many decades the profile of mortgage lending remained largely unchanged. This has rapidly shifted in the past decade however, with notable changes including the lengthening of mortgage terms from 25 years to 35 years and a rise in the number of joint mortgage applications. What is perturbing are reports from brokers that the only […]
Feb 18 – A scheme worth the money
As an industry the Board and membership of the Association of Mortgage Intermediaries (AMI) have positively supported and subscribed to both the Financial Ombudsman Service (FOS) and the Financial Services Compensation Scheme (FSCS) as important safety nets for consumers when things go wrong. Whilst FOS provides a remedy for those in dispute with a firm, […]
