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Does the Association of Mortgage Intermediaries do a good job at representing brokers?

Journalist: Jane Matthews, FTAdviser

ended 20. June 2023

Hello mortgage brokers, 

Interested to hear your views on AMI. Do you think it does a good job at representing the industry? 

Very interested to hear your thoughts on this. If you don't want to speak on the record please drop me an email and we can keep in anonymous - jane.matthews@ft.com

 

Many thanks, 
Jane

2 responses from the Newspage community

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On the whole, yes, I do think they do however they could do better in my opinion. This industry is just relentless in the last few years and there have been so many things going on recently such as Consumer Duty and the ongoing FCA/FSCS fee debates that this is where their focus has been. We need more ground-level representation where we have the voice for the broker community as we don't have anywhere to go as such with grievances and nuances hence why we have launched the Broker Collective last week as a start to this. Our clubs and networks have to balance relationships and strategy so a true independent force is needed for balance and communications. The last few weeks have been very telling of how brokers feel and a vast majority are stressed like never before and something has to give and needs to be done.
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The AMI does an excellent job representing the broker community, but like most trade associations some of its work can be shouted from the rooftops; like getting mortgage brokers moved out of the pension class at the FSCS and grouped with GI (a massive saving each year for every broker in the land). Whilst other work is done quietly and behind closed doors, for no other reason than that's the most effective way to do it, given many won't want to be seen to be doing a u-turn or softening their stance on a matter if in the spotlight. AMI's CEO, Robert Sinclair, did an article in Mortgage Solutions highlighting several of the "big wins" that AMI has managed over the years:
https://www.mortgagesolutions.co.uk/news/2022/03/08/a-decade-of-ami-the-biggest-achievements-changes-and-upcoming-challenges-sinclair/
Many brokers may not even realise that certain changes have occurred, directly or indirectly, due to the AMI's lobbying on their behalf.