Articles

Member Area
May 19 – Trapped in a three way tie

BY AMI

The new affordability tests for existing borrowers proposed on FCA CP19/14 will allow lenders to disapply many aspects of the MMR affordability rules which have restricted the options of some borrowers.  It is proposed that the new simpler rules can [...]

6 months ago / No Comments

20

MAY

No

Comments

May 19 – Slaying the dragons of the MMR

BY AMI

In deciding as part of its Mortgages Market Study that the market needed help by revising advice and selling standards, the FCA has made some interesting statements and assertions.  As one of the few still in their role from the [...]

6 months ago / No Comments

20

MAY

No

Comments

Apr 19 – Pleading for fairness

BY AMI

Following consultation, the FCA has decided to increase the ombudsman service’s award limit to £350,000 for complaints about acts or omissions by firms which take place on or after 1 April 2019.  AMI has been discussing with the FCA the [...]

7 months ago / No Comments

23

APR

No

Comments

Apr 19 – A study in time

BY AMI

The FCA final report of the Mortgages Market Study set out its plans to resolve the issues it identified.  It has accepted, for now, the industry view that intervening to promote solutions to assist consumers to more easily find the [...]

7 months ago / No Comments

23

APR

No

Comments

Apr 19 – Is housing working?

BY AMI

Figures from the Ministry of Housing, Communities and Local Government show housing starts in England remained reasonably robust in 2018, however, it’s unlikely that this indicates an entrenched trend towards increased building rates. The imminent removal of Help to Buy [...]

8 months ago / No Comments

2

APR

No

Comments

Mar 19 – Keeping AMI busy

BY AMI

The Government and the Treasury Select Committee have been increasing pressure on the FCA to do more to help borrowers trapped on SVR or what some might consider to be penal rates of interest often as a result of their [...]

8 months ago / No Comments

14

MAR

No

Comments

Mar 19 – Changes to FOS

BY AMI

This month the FCA announced it is ploughing ahead with increasing the award limit for the Financial Ombudsman Service (FOS) from 1 April.  Seemingly the majority of those who responded to its proposals strongly disagreed, including AMI, yet the FCA [...]

8 months ago / No Comments

14

MAR

No

Comments

Feb 19 – Realtek

BY AMI

I have been listening intently to where we, as an industry, are on the technology journey with a wide range of firms investing in the future of how intermediaries interact with consumers and lenders.  Firstly, we have the traditional broking [...]

9 months ago / No Comments

13

FEB

No

Comments

Feb 19 – Fair recruitment

BY AMI

I’ve heard a firm say that equality and diversity isn’t an issue because they ‘hire the best people for the job’.  This narrow view doesn’t recognise that if a firm does not put equality and diversity at the heart of [...]

9 months ago / No Comments

13

FEB

No

Comments

Jan 19 – Culture

BY AMI

Culture in financial services has become a priority for both the PRA and FCA as well as government and select committees.  It is recognised that culture is a key root cause of major conduct failings that have occurred within the [...]

10 months ago / No Comments

18

JAN

No

Comments