23rd April 2008
Mortgage rates and the credit crunch are the subjects of a new white paper from a UK network of mortgage advisors.

The Association of Mortgage Intermediaries (AMI) has set out its members' views on what caused the credit crunch and assessed its impact on firms and borrowers in the new document.

Among the AMI's assertions about the credit crunch is the claim that confidence problems now pose more of a threat to the mortgage markets than liquidity.

To solve this, the mortgage advisor network suggests exploring new areas of funding, such as sovereign wealth funds.

"It is essential that the market comes together in order to find a solution. To that end we propose a joint approach be made to a carefully vetted selection of sovereign wealth funds with the idea of attracting investment in the UK mortgage market," said Chris Cummings, director general of the organisation.

The AMI states that is has a campaigning and pro-active mandate, defining its role as interpreting the views of mortgage intermediaries in order to influence policy.


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