Our objective is to promote the provision of good advice as an essential part of a healthy market for mortgages, which operates in the interests of consumers. To represent mortgage intermediaries in the UK and act to maintain a positive and ethical business environment by working with politicians, regulators and other industry bodies.
AMI’S CORE PRINCIPLES
- AMI membership is on a corporate basis. AMI represents the interests of member firms not individuals.
- Membership is open to all mortgage advisory firms, providing they are not tied to a single mortgage lender.
- Board members leave their commercial interest at the door and focus on what is best for the industry.
- We will focus on policy issues and work to influence new and existing regulation and interpret it for our members. As regulation shifts towards implementation, we will also pay attention to supervision and relevant thematic reviews.
- We will work actively with our UK regulators, influence government and engage in Europe through BIPAR.
- We do not defend the indefensible and always support good industry practice that operates in the interests of consumers.
- We will work to find common ground with other trade bodies and key stakeholders – e.g. lenders, insurers and the consumer lobby.
- We will consistently make the case that although regulation of mortgage business is appropriate, it doesn’t require a heavy hand.
- We will cover the core aspects of the work that our members undertake: specifically residential mortgages and related general insurance and life & health insurance products.
- We will make the case that proper consideration of consumer protection needs are an important part of mortgage advice.
- We represent the interests of all firms and businesses with impartiality: “the voice of the broker” heard at public events and in discussions with policy makers and lender bodies.
AMI’S CURRENT POLICY PRIORITIES
For 2022/23, AMI will focus on the five key issues we believe are the most important facing our industry:
- The implementation of Consumer Duty across the sector;
- Ensuring a fair and proportionate revision of the Financial Services Compensation Scheme;
- Minimising the impacts of the reviews of the Appointed Representative regime;
- Advising firms on the emerging topics of ESG; Carbon, Green and how to educate brokers and consumers;
- Developing an agreed position on the Lifetime mortgage market and attitudes towards holistic advice.
In addition to the above, we will also monitor and advise in the normal way the following:
- The cost of provision of advice;
- Diversity and inclusivity;
- Guiding our members to understand and respond to market changes.