AMI calls for adviser feedback on mortgage regulation

Mortgage brokers reacted strongly to the FSA's comments at the conference that it is considering an RDR-style review of the way they are remunerated, following concerns over commission bias.

The FSA plans to release its proposals for the mortgage market in September but the AMI is eager for intermediaries to have their say before then.

It is calling on the brokers to respond to its questionnaire and submit their proposals for the regulation of the mortgage market. In addition, AMI has provided a summary paper outlining some of the key issues facing the mortgage market. Responses received will form part of a wider paper the AMI will submit to the FSA.

Robert Sinclair, director of AMI, says the FSA was already forming an internal view of the market and the regulatory structure necessary to manage it leaving the intermediary sector only a short window of opportunity to 'fully engage'.

He explains: "It is time for the industry to come together. We have an ideal opportunity to develop solutions and provide input to FSA that provides consumers, advisers and lenders with a market that works equally well for all parties."

"We would encourage all our members, and any other interested parties, to contribute to this key debate. This is a real opportunity for members to shape the future of their industry."

For more information or to register your views on the future of mortgage regulation visit the AMI's website.

Categories: Mortgages| Regulation