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…

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Help to Buy Closure – FAQs

The Help to Buy scheme officially closes to new applicants today (31st October) at 6pm. The government has issued guidance on the future milestones for buyers to be aware of as the scheme winds down, and what to do if the builder cannot complete the property in time to remain eligible for the scheme.

In brief, housebuilders need to have finished building all Help to Buy homes to a liveable standard known as ‘Practical Completion’ by the 31st December 2022, and the homes have to have received a new-home warranty by the same deadline. Then, buyers need to have legally completed their purchase and received the keys by 6pm on the 31st March 2023.

If housebuilders cannot meet these deadlines, buyers must be refunded their reservation fees in full, and if contracts have already been exchanged, buyers must be released from these contracts and have their deposits returned to them. Read more here.

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