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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The Mortgages Market Study found high levels of consumer engagement in our market; over three quarters of consumers switch to a new mortgage deal within 6 months of moving onto a reversion rate.  Subsequent FCA research revealed that consumers who used a broker to select their initial mortgage were less likely to transfer onto the SVR at the end of the initial term.  However, the FCA is concerned about the numbers of customers that remain on SVR.

The FCA is shortly to consult on making changes to reduce the number of consumers reverting to and staying on SVR. Their initial thinking seems to be to get lenders to do more directly.

AMI is conducting a survey on product transfers and remortgages.  We will use the results of this survey to help focus the regulator’s thoughts ahead of its consultation.

It would help us greatly if all mortgage brokers could complete the survey.  All responses are anonymous.  It should take no more than 5 minutes.  Simply click on the link below.  This survey closes at 23:45 on 25th October 2020.

The survey is open to all, not just AMI members, so please do share it with other brokers, both in your firm and further afield.

Thank you for your support.


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