AMI calls on FSA and CML to acknowledge brokers

The Association of Mortgage Intermediaries has welcomed figures from the Intermediary Mortgage Lenders Association, which show brokers continue to dominate the mortgage market, but it wants the trade bodies and the regulator to acknowledge this important role.

Robert Sinclair, director of AMI, says: “These new figures demonstrate the key role that intermediaries have to play in offering consumers advice across the whole of the mortgage market. It has been an extremely tough period for the mortgage industry.

“But it is a positive sign that consumers continue to vote with their feet in terms of the value they place in looking at the wider market.”

He says mortgage brokers have shown real resilience to come through this tough period.

He adds: “We now call on the Financial Services Authority, the Council of Mortgage Lenders and individual lenders to fully recognise the role played by intermediaries in their plans for the future. Consumers value the service and help delivered by brokers in securing the most appropriate mortgage.

“Our objective should be to make this service more accessible, not limit it through pricing or limitations imposed through the Mortgage Market Review.”