The vote, which took place at a CFB EGM on 25 May, formalised the winding-up of CFB’s activities and saw the next stage in its strategic alliance with the Association of Mortgage Intermediaries (AMI).The AFB will be a sister trade body to AMI.
CFB Board members and AMI directors are now working to ensure a smooth transition takes place and a full policy agenda is enacted. AFB members will benefit from the activities of a high profile trade body and will have access to a wider team of professionals in PR, marketing, policy, and lobbying.
Steve Walker, chairman of the CFB, said: “I am delighted that our members voted unanimously to back the alliance with AMI. There is no doubt that the coming years will continue to provide challenges and I’m confident that the AFB will help members to meet such challenges with a higher level of professionalism, awareness and involvement in shaping the industry’s future”.
Rob Griffiths, associate director of AMI, said: “We are delighted the membership of CFB have voted in favour of the strategic alliance with AMI which will see the creation of the AFB. The AFB will give secured loan brokers a high profile, effective trade body while also providing members with a wealth of information to enable them to build their businesses. We will now begin work on our policy priorities and urge all secured loan brokers to join the AFB. This is an exciting development and it will be through the strength of our members’ support that we will be able to deliver clear benefits to them.”
The AFB will have its own elected divisional board, made up of practitioners from the industry. The Rt Hon John Gummer MP will become the AFB’s chairman and Chris Cummings will serve as director-general.
Background
The Corporation of Finance Brokers was formed in 1982 as a voluntary self-regulating organisation representing the needs of intermediaries in the secured loans market.Members of AFB will benefit from increased profile and opportunity to influence the future of second charge lending. In addition they will enjoy the AMI infrastructure including dedicated policy experts, help desk support, regular industry updates and networking opportunities with the regulators.
AMI was launched three years ago as a division of the Association of Independent Financial Advisers (AIFA), to help champion the cause of professional mortgage intermediaries. In that time it has grown to represent around 80 per cent of all professional mortgage intermediaries and has become the recognised voice of the industry.
