This comes ahead of a white paper on this issue which is due to be published in Spring 2007.
Commenting, Rob Griffiths, the Association of Mortgage Intermediaries’ (AMI) associate director, said: “We are pleased that this report recognises the beneficial role which mortgage intermediaries can play in helping consumers access competitive mortgage credit from domestic and non-domestic lenders.
“But we do have concerns about some of the proposals in this report which could bring about changes to the newly established UK regulatory regime for mortgages. We see no need for change in the UK. The FSA has recently published its first ‘mortgage effectiveness review’ and the results were positive. Any EU requirements beyond what we have in place now would have to be clearly justified and subject to a cost benefit analysis.
He concluded: “AMI will play an active part in any consultations to deliver a regulatory framework, that brings as little disruption as possible to the UK’s current regime for mortgages
