AMI welcomes FSA MMR statement
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The Association of Mortgage Intermediaries has welcomed the Financial Services Authority’s feedback statement today regarding its Mortgage Market Review.
Robert Sinclair, director of AMI, says the regulator deserves the industry’s support for not rushing to introduce change during a difficult period for the mortgage market.
He says: “We believe that the regulator must recognise the importance of advice for consumers. Mortgage intermediaries play a vital role in advising consumers about what is affordable and what the best product is to meet their needs. AMI remains firmly of the view that customers will always benefit from advice, but with the ability to opt out for those confident in the market. This should be applied across the market.
“The industry appears united in ensuring that customers understand the impact of rolling up fees into a loan, rather than restricting this approach. This is a positive step forward.
“We look forward to continuing our discussions with FSA in the coming months.”
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