Consumer Duty – an update

Key Consumer Duty developments and recent communications issued by both AMI and the FCA, with commentary on implications for mortgage intermediary firms…

AR regime – updated AMI Q&A and deadline reminder

Having heard back from the FCA, we have updated AMI’s Q&A documenton the AR regime. We also wanted to remind firms of the upcoming 30 November 2023 deadline…

FCA application window open for firms approving promotions for unauthorised persons

Firms that approve financial promotions for unauthorised persons have until 6th February 2024 to apply for approver permission from the FCA…

FSCS levy and compensation figures update

The FSCS has released an update on its levy and compensation figures for 2023/24, as well as anticipated levy figures for 2024/25…

AMI unveils The Perception Gap, the fourth annual Protection Viewpoint

This Viewpoint features hot topics facing the industry, including value of advice, building trust, consumer buying habits and generational views & attitudes…

Your October update from AMI Chief Executive Robert Sinclair

AMI Chief Executive Robert Sinclair gives his October update, focusing on AMI’s Protection Viewpoint, new build and Consumer Duty…

Edit Content

Log in here for full access to all our great content


Please log in below with your username (which is your email address), using all lower-case letters.


Forgotten your password?
No problem, simply tell us you have forgotten your password to receive instructions instantly via email.

Having problems logging in?
If you are a current member but are unable to login, please first make sure you are using all lower-case letters for your username/email address. If you still have difficulties, please contact us via email at so we can rectify your problem.

Not a member?
Learn more about the benefits of becoming a member or apply online and we will be in touch.

Chief Executive update – challenging times

This month Robert discusses the major challenges facing brokers and consumers in today's market...

As you will hopefully have seen, we have published our initial thoughts on the FCA’s new Consumer Duty policy. In keeping with other major changes, we will try to deliver our thinking to you in bite sized chunks. This should allow you to plan appropriately, limit confusion and give you the best chance of meeting the requirements and deadlines. In the coming weeks we will begin to run workshops and deliver more detailed information. These will, hopefully, allow you to reach next July in the best possible position.

As we lean into these significant changes, we are also all dealing with cost of living challenges. The FCA has set out its thinking in a Dear CEO letter to lenders. This makes it clear that firms should consider carefully the real needs of consumers, not just a debt restructuring solution. All advisers must consider whether proper debt advice is required before a debt consolidation solution is explored. This is particularly the case in the second charge market and in lifetime mortgages. The FCA has highlighted that full assessments of circumstances and income and expenditure analysis is expected. The FCA will be reviewing cases to establish that recommendations made are suitable not just for the short term but also work long term.

Finally, I am aware that the mortgage world has rarely been as difficult as now. Extended pipelines, processing delays, escalating interest rates and sudden withdrawal of products. I know how frustrating this is as you try to get the best possible deal for your customer. I would just ask that you deal sympathetically with people you are dealing with at lenders, valuers and conveyancers. It is seldom that the person you are talking to has made the decisions that are impacting you or your customer. They are trying to do their best the same way you are. Please treat them with respect.
Please keep safe, enjoy what remains of the summer, and be ready to help all those that will undoubtedly ask us for help as we face into the challenges that will escalate as we progress through the end of this year and into 2023.


Forgot Password?

Join Us