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AMI signings indicate support from industry

The Association of Mortgage Intermediaries has signed up its 14th lender member, signalling an increased appetite from lenders to support brokers.

Skipton Building Society became the latest lender to join the trade body last week.

It follows Nationwide, ING Direct and Clydesdale, which have all joined the trade association recently.

AMI director Robert Sinclair says that unlike the Intermediary Mortgage Lenders Association and the Council of Mortgage Lenders, AMI is not campaigning on behalf of lenders.

However, by joining the trade body lenders are helping fund its work on behalf of brokers.

Sinclair says: “Lenders are expressing their support for the new AMI and helping fund what we are trying to achieve.

“We are not lobbying for them, and continue to lobby on behalf of brokers, but we will meet lenders on occasion to discuss what their and our thinking is.”

Skipton recently revealed that more than 90% of its lending went through intermediaries in 2011.

Paul Darwin, head of intermediary lending at Skipton, says: “At a time when the mortgage market faces considerable regulatory challenge and change, joining the AMI will enable us to share and gain insight into the latest industry best practice, so that we can continually hone what we offer and ensure it remains relevant to the evolving needs of intermediaries.

“With the challenges still facing the economy, including changing UK and European regulation, it is essential that the AMI remains a representative and democratic voice. With the vast majority of the industry in membership, this is a voice that must be listened to.”

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