AMI calls for indemnity 're-invention'

It would allow lenders to increase their capacity to lend and extend the availability of mortgages to a wider range of consumers, it says. Additionally, it calls for the abolition of stamp duty on residential property. A MIG insures the lender against losses incurred when a home is repossessed and sold for an amount less than the outstanding debt. AMI director Robert Sinclair says it is crucial the Government considers both the supply and demand sides of the market if it wants to re-energise the mortgage industry. "On the supply side we propose re-inventing MIGs, with a focus on con...