Apr 18 – Real Interest
The development of the later life lending market will be one of the most significant aspects of the housing and mortgage market alongside technological innovation over the next decade. It was therefore fascinating to see where the FCA decided to land on the issue of retirement interest-only mortgages. AMI had requested that advice was made […]
Apr 18 – Hybrid advice
Several large broker firms have launched or are about to launch their own online offerings for consumers wishing to transact on their computer or by mobile. However, what has been noticeable about these offerings is the decisive move to offer a hybrid model that affords customers the best of both online and face-to-face advice. Largely […]
Apr 18 – Challenge of culture
In the recent policy and supervisory work from both the PRA and the FCA much has been made of the culture within a firm. There is a growing recognition that whilst a robust rulebook and well-established principles alongside the Senior Manager regime provides a framework, it is how a firm thinks and operates that needs […]
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 […]
