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AMI plan to beat our toughest challenge

The mortgage intermediary profession is facing its toughest challenge since the introduction of mortgage regulation.

As well as the falling housing market, we are faced with factors such as low transaction volumes, tighter lending criteria, a squeeze on procurement fees and dual pricing. While the regulator acknowledges that it is a tough time for advisers, it does not feel that it can intervene in these commercial matters.

The Association of Mortgage Intermediaries’ focus is to navigate our industry through these tempestuous times. As director of the representative trade body for all mortgage intermediaries regardless of size or authorisation type, I urge the profession to unite at this time.

The AMI can provide a rallying point for the industry and help members through the difficult periods. To be effective and to make sure that we can support our members by taking their cause to the regulator, lender bodies and consumer groups, we need three things:1: Increased AMI membership – every firm and adviser should subscribe to further unite the industry.2: A single voice – industry comment and pressure should be channelled through a single focal point, supporting our PR effort.3: Financial support – through membership fees, we have the strength to support the profession on an equal footing with other trade bodies and to promote the value of mortgage advice to the UK borrowing public.

Richard Farr
Director
Association of Mortgage Intermediaries, London EC2

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