Brokers set to submit significantly more mortgage applications
The Association of Mortgage Intermediaries (AMI) is predicting a significant rise in the amount of mortgage applications submitted through brokers over the coming years.
According to Robert Sinclair, the chief executive officer of AMI, the £70bn worth of mortgages submitted via brokers in 2012 will be dwarfed by the predicted £130bn throughout 2014.
Findings from the Mortgage Market Review, carried out by the Financial Conduct Authority, are being introduced to ensure customers are treated more fairly and given thorough advice when applying for a mortgage.
Mr Sinclair told Mortgage Strategy magazine that most of the lenders will be making changes to their IT systems and customer service procedures.
March 6, 2014
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