View more on these topics

AMI looks to convince Cameron on need for help with liquidity

The Association of Mortgage Intermediaries is drawing up plans to persuade the Conservatives that helping to fund the mortgage securities market is a good idea.

Earlier this week, Tory leader David Cameron warned against pumping more liquidity into the mortgage market. On the BBC’s Today programme, he said: “Attempting to refloat the mortgage market is a difficult thing to do. Big plans have big problems.”

Cameron argued that adding liquidity would help “push open the door for 95 per cent and 100 per cent mortgages” which he said was a dangerous move.

The AMI has been championing the cause for Government intervention in the market. Director Chris Cummings says: “We are working with the Government and all other parties in pushing proposals for proportionate, cautious intervention in the mortgage securities market.

“I met with David Cameron recently and his main concern is that any Government intervention could lead to the market overheating. I argued that the market is like a pendulum and right now it has swung in the opposite direction. The Government needs to intervene to help the liquidity markets.”

Cummings says he believes the Conservatives are cautious over backing any funding plans as they think they will win the next general election and will then be faced with financial responsibilities for any actions.


A taste of the exotic

Disappointing weather is not the only thing currently making people think about fleeing the UK’s shores.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm