The Association of Mortgage Intermediaries (AMI) has called for the accelerated implementation and launch of the banking proposals announced by the Government earlier this week, after releasing a grim first economic bulletin for 2009.
According to research by the trade body, net lending will continue to decline, with gross lending expected to be just over £145bn in 2009. AMI also predicted that mortgage intermediaries risk finding their share of the market squeezed. "If big lenders' choose to favour their branch networks, the intermediary share could be less than half of the £145bn that is available to be lent," says Robert Sinclair, director of AMI. "During this period, the long term need to put consumer interests first, and value their desire to consult an intermediary, must be respected by lenders. "Alternatively,...
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