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UK voices are leading discussions on EU mortgage directive

Association of Mortgage Intermediaries director Robert Sinclair says the UK is leading the discussions on the European mortgage directive.

Following the publication of the European Commission’s mortgage directive in March, the economic and monetary affairs and internal markets and consumer protection committees must report on the proposals.

This will feed into one set of proposals to be voted through the European Parliament and the council of the EU.

Speaking last week at the Mortgage Business Expo in London, Sinclair told delegates that UK trade bodies have a bigger voice than other European countries when it comes to influencing the content of the directive.

He said: “The UK has the strongest trade bodies in the European regulatory landscape. The AMI is leading the discussions on behalf of all European brokers. Rather than it being Germany or Spain, it is British voices that are leading the discussions, which has been a really important win for us.”

Sinclair revealed that the AMI is working more with other trade associations than it has in the past, such as the Council of Mortgage Lenders, to try and achieve its aims.

He also urged the FSA to release its mortgage market review as soon as possible.

He told delegates: “The regulator keeps looking at whether the numbers add up but we need it out there. We need some form of certainty for the market to be able to progress.”



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