AMI forms mortgage market review working party

The Association of Mortgage Intermediaries (AMI) has formed a working party of its members to consider the major issues facing the mortgage market.

The working party will help shape AMI's response to the FSA's mortgage discussion paper, expected in late September or early October.

As part of the response, the working party will feed into three papers which cover wider macro market issues, the conduct of business rules and affordability.

AMI director Robert Sinclair says it is critical that intermediaries provide a strong and coherent message in advance of the discussion paper later this year.

"The FSA is already developing a view of the regulation necessary to manage the mortgage market," he says.

"This working party will allow us to build on views expressed in the member consultation on mortgage regulation we ran in May and June this year," he adds.

He stresses the importance of member contributions to the working party to make sure any regulatory changes proposed lead to better outcomes for both consumers and the industry.

"Given the difficulties many consumers are facing, it is vital that regulation does not restrict access to independent financial advice for those who need it most," he says.