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AMI’s analysis puts mortgage market evidence on record

The Association of Mortgage Intermediaries is collating evidence of current UK mortgage market practices to create a reference point for any future claims against advisers.

Director Richard Farr says it has appointed new policy analyst Katie Taylor to collect and document all the evidence of the current situation in the market for its Stake in the Ground initiative which is already being applied to aspects of the IFA market.

SITG was developed to provide a detailed analysis of the way that the industry is carrying out business in particular areas at particular times.

The intention is that the results of this research can be used by regulators, the industry and consumers as evidence of how business was being conducted and the environment that prevailed at a certain time.

Farr says: “Our new policy analyst is collating all the evidence. There is a lot of information to collect as we have had three public FSA ann-ouncements on the issues in the UK mortgage market. The important thing is that we are doing it and we will then retain that record.”

He points out if there are complaints made against advisers, the regulator and ombudsman will have a reference point to that date.

An FOS spokeswoman says: “The AMI has been in touch with the ombudsman about this issue. We welcome any information that provides context of a particular time. We do not look at claims retrospectively so anything that adds to that is always helpful.”

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