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
- Provision of advice –
- the right of consumers to quality advice and product choice; and
- the need for it, particularly in addressing vulnerability
- Housing that supports consumer needs whether that be ownership or rental
- The impact of incentivised products (e.g. Help to Buy, free legal fees, free valuations)
- The importance of cyber, data security and operational resilience
- Good firm and sector culture including improving equality and diversity
- The fraud, financial crime and quality agenda
- Extension of the Senior Managers and Certification Regime
- Cost of regulation particularly FCA costs, FOS levies and FSCS funding
- The role of technology in supporting regulation, competition and advice through consistent application of FCA principles and rules
- Product innovation and advice in the later life market
- Awareness of wider products particularly advising on protection to enable good customer outcomes