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AMI backs brokers’ support for lenders

The Association of Mortgage Intermediaries has voiced its support for the open letter backed by seven of the biggest UK mortgage distributors, as revealed in Money Marketing today.

This week’s issue includes an open letter to the mortgage intermediary market written by Premier Mortgage Service managing director John Malone.

It calls on mortgage brokers to understand and make allowances for the huge strain the credit crunch is placing on lenders.

It has been signed by Sesame, Openwork, Pink Home Loans, Personal Touch Financial Services, Legal & General Mortgage Club and Home of Choice.

AMI director Richard Farr says: “It is a sign of how strong the mortgage market is that lenders and brokers unite at troubled times to ensure the interests of the consumer remain paramount. The market liquidity crisis is turning into a collapse of confidence which is driving up rates and restricting criteria.

He adds: “It is important for the whole industry to understand each others pressures and to work together to resolve the issues. This is why AMI is working with politicians, HM Treasury and policy makers to promote a range of initiatives to restore much needed trust and confidence back into the markets. It is our intention to share these details with membership shortly.”


Zurich International Life boosts fund range

Zurich International Life has added 38 more funds, including 130/30 and currency funds, to its investment platform.The three 130/30 funds include the Invesco Pan-European 130/30 equity fund and DWS Investments’ emerging markets equities 130/30 and top 50 Asia 130/30 funds.Zurich says the currency funds, which come from Morgan Stanley, allow investors to allocate currency as […]

Mortgage firms team up to defend lenders

Seven of the biggest UK mortgage distributors have joined forces to call on mortgage brokers to understand and make allowances for the huge strain the credit crunch is placing on lenders.The unprecedented move sees the heads of six rival companies, representing over 30,000 brokers, join together to back an open letter to mortgage intermediaries written […]

Openwork adds fixed-term annuities

Openwork is the first major retirement adviser firm to include fixed-term annuities in its product range by teaming up with Living Time to offer the plans as an alternative to lifetime annuities.

Budget summary – March 2016

This week’s Budget looked as if it would be a difficult one for the Chancellor, with disappointing economic numbers and the need to avoid ruffling feathers ahead of June’s in/out referendum. Nevertheless, Mr Osborne did spring a few surprises, including some tax reductions. So how does this budget affect you? If you are – or […]


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