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, […]
Feb 18 – Keeping focus
The FCA as part of its activity developing its “Mission” has recently issued a series of documents to allow input over its approach to consumers, competition and authorisation, with more to follow. AMI is disappointed that the content reads more as academic papers rather than identifying the real issues facing consumers and proposing specific solutions. […]
Feb 18 – Beyond the regulatory perimeter
Unregulated activities have gained interest over recent years as compensation scheme claims against intermediaries have risen dramatically, with most claims relating to advice given on an unregulated product. As the firms mis-selling these speculative property schemes and unregulated investments have been regulated, the burden falls onto the rest of the industry. There is already an […]
Jan 18 – General Data Protection Regulation
In September we issued a factsheet on the General Data Protection Regulation, which applies to all firms from 25 May 2018.
Jan 18 – Looking ahead
As we have entered the New Year, the regulatory and legislative changes that we had seen from a distance are now just around the corner. The most rushed changes come from the Insurance Distribution Directive which applies to firms carrying out life insurance and non-investment insurance business. The FCA only recently issued its second policy […]
Jan 18 – Opportunity
The New Year brings a new set of targets for our lender partners. Having seen another year of growth in volume in 2017, early discussions indicate that no-one is looking to take a step backwards in 2018. Indeed with many lenders indicating ambitious growth targets, it looks like we will have a year of opportunity […]
