Apr 16 – Digging deeper on Debt and Advice
From discussions with our regulator it appears that they have a tangible concern over how well some intermediaries are dealing with customers who are undertaking debt consolidation. This will apply equally in relation to advice on both purchase and remortgage cases. It is expected that all transactions where there is any element of debt consolidation […]
Apr 16 – Milestones or Millstones
Mortgage advice is a crucial part of the financial landscape for many. Ensuring it is effective must be a core part of the work of the FCA. However the costs that it thinks the industry must shoulder is worrying. In 2009 when the bill for regulating intermediaries ticked over £10m most saw this more than […]
Apr 16 Automatic P2P Permission
We have been advised that a significant number of firms have received an email earlier this week from the FCA confirming that a permission to advise on peer-to-peer (P2P) agreements was automatically added on 6 April. This applies to firms which hold
Apr 16 Consumer buy to let registration
AMI has identified that there may be a potential problem over the activities that some firms have requested when making their application for the consumer buy to let (CBTL) permission.
Apr 16 – FCA Business Plan and Annual Fees Consultation 2016
The FCA have today (5 April) released their new business plan and budget including draft fees for the year 2016/17.
Mar 16 – Evidencing Income
AMI has been a long-term supporter of the principles set out in the Mortgage Market Review, which was fundamental in requiring income to be evidenced in all cases. This removed the concept of self-certification of income from the UK mortgage market place. We would not want to see a return to self-certification of income and […]
Mar 16 – All the unknowns
As it now looks like a base rate rise is pushed even further out, lenders will have some tough decisions to make as we progress through this year and into 2017. Sir Jon Cunliffe, Deputy Governor of the Bank of England has made a couple of speeches recently which go a long way to explaining […]
Mar 16 – Buy to let tax changes: guidance
Last year, the government announced two major tax changes which will affect buy to let property owners. From 1 April 2016, increased stamp duty land tax will be payable on purchases of additional residential properties.
Feb 16 – The Advice Factor
There has recently been a decision from the Financial Ombudsman Service (FOS) which sheds further light on the expectations of what an adviser needs to consider when supporting a lending application, which includes an interest only element, particularly with limitations on how the capital will be repaid. This decision is based upon the 2013 Court […]
Feb 16 – The value of an economic prediction
With the latest quarterly inflation report from the Bank of England and the Monetary Policy Committee voting unanimously to hold rates again, the landscape has changed once more. The prospect of any base rate rise in 2016 has receded and there is even a possibility of a rate reduction or further QE in order to […]
