The Association of Mortgage Intermediaries (AMI) says it hopes the winning bidder for Northern Rock will stay committed to the intermediary market.
Richard Branson’s Virgin Group appears in pole position to take over the beleaguered bank, although it has now emerged several influential investors would move to block its bid. But the AMI backs an early settlement in the Northern Rock saga and says it would be keen to work with the new owners to ensure broker’s interests are addressed. “There have been lots of positive comments about an early settlement being good for stability and the future of the market with which we agree,” says Richard Farr, director of AMI. “Northern Rock has historically been a major intermediary lender. We trus...
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