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Exclusion of rogue firms is good news, says AMI

THE ASSOCIATION of Mortgage Intermediaries has welcomed the fact that the Financial Services Authority has kept out more than 600 rogue mortgage and general insurance brokers since it took over regulation last year.

AMI says the news can only be good for the industry and consumers. It says there is no space in the market for firms that do not match up to industry standards.

Andrew Honey, head of insurance in the small firms division of the FSA, says: “It is essential that unfit firms are kept out to ensure there is a level playing field for the benefit of intermediaries. It also provides crucial protection for consumers.”


em- launches products with First National

em-homeloans is offering a range of products in conjunction with lending partner First National.The branded lending division of em- will offer to brokers a light to medium, two-year fixed rate at 85% LTV with a rate of 6.59%, a high two-year discount at 75% LTV with a rate of 6.44%, and a first-time buyer 95% […]

Complaints handling criticism

The Financial Services Authority says it has found no evidence that small IFA firms are fobbi ng off mortgage endowment complaints, but did uncover some problems with complaints handling practices that firms must address. Following concerns raised in independent research commissioned by the watchdog, the FSA launched a project to examine the complaints handling of […]

Buy a tape recorder and get a USP

The news that the Financial Services Authority has been associated with comments regarding the use of tape recorders during client conversations is music to my ears.

TMW move could alienate B2L brokers

The Mortgage Works’ decision to not accept applications for buy-to-let mortgages on new-build properties has sparked fears it could alienate specialist brokers and affect the buy-to-let market. TMW’s decision to only accept buy-to-let applications on properties over one year old has been met with a mixed response in the industry, with worries that other lenders […]

Finance is only one hurdle for small developers

The housebuilding market in its current form simply isn’t working. We are completely over-reliant on the biggest players in the industry – the largest nine are responsible for more than 50 per cent of the new homes built in the UK. But there is a reluctance to do more, particularly in this uncertain post-Brexit world. And with […]


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