Articles

Member Area
Jan 20 – The shifting view on income protection

BY AMI

The phrase ‘mortgage protection products are sold; they are not bought’ surfaces time and time again. But this is true in a post-MMR (Mortgage Market Review) world where the core mortgage advice and application process takes a significant amount of [...]

1 year ago / No Comments

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JAN

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Dec 19 – The price of “free”dom

BY AMI

In the past I have been critical of the marketing by lenders of “free valuations” and “free legals”.  News is reaching me again of significant delays in purchase and re-mortgage cases as the service provided through some conveyancers are at [...]

1 year ago / No Comments

12

DEC

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Dec 19 – Cultural Awareness

BY AMI

As a responsible trade body, AMI has always wanted an effective and efficient regulator.  In the FCA we have in the past enjoyed an open and participative approach built on mutual trust.  The MMR and FSCS funding consultation being two [...]

1 year ago / No Comments

12

DEC

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Nov 19 – The gift of SM&CR

BY AMI

With the FCA’s Senior Manager & Certification Regime (SM&CR) due to be extended across financial services businesses from 9 December 2019, I would have expected more noise from small to medium sized advice firms complaining about the complexity.  It makes [...]

1 year ago / No Comments

19

NOV

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Nov 19 – Remember, Remember the 9th of December

BY AMI

This is the magic date when we migrate from the Financial Conduct Authority’s Approved Persons regime to the new Senior Managers regime.  Further changes will occur during 2020 when firms will have to complete activity to comply with the new [...]

1 year ago / No Comments

19

NOV

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Nov 19 – Goldilocks forgets the porridge

BY AMI

After a process as long as Brexit, the FCA has finally coughed up its new affordability rules to deal with the trapped borrower issue.  The call for inputs on its Mortgages Market Study was in October 2015, followed by the [...]

1 year ago / No Comments

19

NOV

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Oct 19 – The bigger ticking bombs

BY AMI

The housing market appears stable, with forecasts suggesting that transactions will reach 1.2 million in 2019, in line with the long-term average. However, according to analysis by Zoopla and Hometrack, activity in the market is not evenly spread geographically.  Sales [...]

2 years ago / No Comments

22

OCT

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Oct 19 – Picking the right remedies

BY AMI

The FCA is due to deliver final remedies from its Mortgages Market Study in Q4, unanticipated events notwithstanding. AMI has already been vocal about a wholesale move to allow execution-only sales to re-enter the mainstream market.  It is a mistake, [...]

2 years ago / No Comments

22

OCT

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Sept 19 – Who is Sonia

BY AMI

Lenders are currently heavily involved in making plans for the abolition of LIBOR, however this may come as a bit of a surprise to intermediaries.  The lack of public utterances so far masks a vast raft of work going on [...]

2 years ago / No Comments

16

SEP

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Sept 19 – Fearful of FOS

BY AMI

The Financial Ombudsman Service is obliged to publish decisions which have been referred to an Ombudsman.  Firms should be looking at its website and searching for mortgage based decisions to update themselves on issues which might arise from the approach [...]

2 years ago / No Comments

16

SEP

No

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