Obtaining key facts illustrations from lenders is the biggest single problem intermediaries face since the onset of regulation, according to a survey by the Association of Mortgage Intermediaries.
Ami says previous census results showed the majority of intermediaries welcomed mortgage regulation as a means of increasing standards but the recent survey shows key issues have yet to be resolved. Around 24% of respondents said obtaining KFIs from lenders was the most significant problem since regulation. Nick Baxter, managing director of Mortgage Promotions, says research of their membership revealed only 39% of members obtain KFIs directly from a lender’s website while 59% obtain them from sourcing systems. Baxter says the reason for the “surprising” results could be KFIs are diffi...
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