This month, we are sitting down with Stephanie Charman (pictured), chief executive of the Association of Mortgage Intermediaries (AMI).
How did you get into the mortgage industry?
Like many people, I fell into the mortgage industry rather than planning a career in it. I left college intending to study medicine but took a year out first and took an admin role at a local live provider, initially as a short-term plan. That was the start of my career in financial services and led to a variety of roles across mortgages and protection, including time as an adviser, before moving into intermediary distribution in 2001 with Mortgage Intelligence.
Working for Sally Laker was particularly influential, as her leadership had a lasting impact on my career. I later moved to Sesame Bankhall Group for a new challenge, focusing on distribution, strategic partnerships and proposition development, and worked closely with AMI on several industry initiatives. When Robert Sinclair announced his retirement, applying for the chief executive role at AMI felt like a natural next step and I was delighted to be successful.
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What has been the biggest learning over your career?
The biggest learning for me has been not to wait until I felt ready before taking the next step. Early in my career, I often questioned whether I was experienced enough or had everything figured out, but I’ve learned that you rarely ever do. Some of the most important opportunities I’ve taken came from putting myself forward before I felt completely comfortable, trusting my instincts and learning along the way.
Alongside that, I’ve learned the value of surrounding myself with people who will be honest with me. Having mentors, both inside and outside the business, and being open to constructive feedback has played a huge part in my development. I try to stay curious and open-minded, because there’s always something new to learn and those conversations and perspectives are often what help you grow the most.
You became the CEO of AMI in 2025. What has the first year as head of the trade body been like?
Stepping into the CEO role at AMI in February 2025 was both exciting and a little daunting, particularly following Robert Sinclair, who had built such a strong foundation for the organisation. I was fortunate to have his support during the transition, which was invaluable and it meant I could focus on helping AMI evolve alongside a market that’s changing rapidly.
I’ve always been passionate about the role advisers play in helping consumers achieve their homeownership goals and ensuring they receive high-quality advice. Having worked in this sector for many years, I’ve seen first-hand the important work AMI does as the voice of the adviser and the opportunity to play a part in shaping the future of the mortgage and protection advice landscape was one I couldn’t pass up.
From day one, I’ve been struck by how welcoming and talented the AMI team is.
The first year has also highlighted just how much the regulator is focusing on the mortgage sector, more than I had anticipated. It’s reinforced the importance of AMI’s role in lobbying for advisers and advocating for the value they bring to consumers. Collaboration with other trade bodies has been vital in this work and I’ve been impressed by how much progress can be made when the industry works together.
While I initially wondered how my experience would translate into the role, I’ve been surprised at how useful it has been, from understanding the challenges advisers face, to engaging with lenders and partners, to navigating industry initiatives. I’ve also been hugely supported by our members, lenders, providers, fellow trade body peers, the AMI board and especially our board chair, Monty.
Overall, it’s been a hugely rewarding first year, challenging, fast-paced, and full of learning and I feel privileged to be leading AMI at such a pivotal time for the sector.
One of the key areas that AMI was working on last year was the Financial Conduct Authority’s (FCA’s) Mortgage Rule Review, with the regulators’ feedback statement published at the tail end of last year. What did AMI think of this feedback statement and what would you like to see from the regulator?
The FCA’s Mortgage Rule Review Feedback Statement was an important milestone for the industry and AMI welcomed several aspects of it. We were particularly pleased to see the FCA respond positively to our lobbying against the concept of ‘enhanced advice’ – confirming they will not pursue this work mirrors the stance we and many stakeholders advocated for. It’s encouraging when the regulator listens to the sector and it reinforces the value of the voice our members bring through AMI.
We were also pleased to see the FCA publish a clear roadmap, which provides a useful overview of how this work will progress. Staggering the initiatives to manage regulatory burden, while accelerating change in key areas like supporting first-time buyers and under-served groups, is sensible and will help firms navigate this evolving landscape.
Looking ahead, we want to see the FCA continue this collaborative approach. Ongoing engagement with AMI, other trade bodies and members is critical to ensuring that policy development is practical, reflects the realities of advice and ultimately supports consumers to access sustainable homeownership. This work underscores the vital role mortgage advisers play and AMI will continue to highlight that role and the value of high-quality advice throughout this process.
Last year also saw the publication of AMI’s sixth Protection Viewpoint, which looked at the past, present and future of protection. What were the most surprising findings and what would you like to see from brokers on this front?
The sixth AMI Protection Viewpoint really highlighted both the opportunities and challenges in the protection market. What stood out to me most is that our sector has the insight, expertise, and influence to make meaningful, lasting change but only if we act on it together. This isn’t a ‘one-and-done’ report; it’s the start of an ongoing conversation across the industry to ensure protection conversations truly resonate with customers and help more people get the cover they need.
One statistic that really struck me is that just 39% of mortgage holders recall having a protection conversation with their adviser. That’s only a slight increase from 36% in 2020, even though 82% of advisers say they advise directly on protection, with another 13% referring to a specialist. There’s clearly a disconnect between the great work advisers are doing and the way the message lands with customers. It’s a strong reminder that we need to keep the consumer at the heart of every conversation, helping them understand the real impact of not being protected.
The report also provides clear call-to-action points for everyone in the sector, whether advisers, firms, networks, insurers, reinsurers, or tech providers. My hope is that everyone takes the time to reflect on these insights, commit to concrete actions within their businesses, and work together to build on the momentum this year’s report has created.
Ultimately, what I’d like to see from brokers is a continued focus on the customer, combined with using the insights from the Viewpoint to make protection conversations more meaningful, engaging and impactful.
Working in Mortgages, which AMI is deeply involved with, also launched its new Charter and call for volunteers last year. What are the plans for this initiative for this year?
I, like many, fell into financial services by chance, but I’ve become passionate about changing how careers in this sector are perceived. The opportunities in mortgages and financial services are incredible and I want future generations to choose this path intentionally, rather than it being an accident.
Working in Mortgages (WIM), a collaboration between the Intermediary Mortgage Lenders Association (IMLA) and AMI, is vitally important to achieving this. WIM has shaped a clear and ambitious roadmap for 2026, with a new Steering Committee and workstreams focused on visibility, execution, and measurable impact. Our objectives remain to attract diverse new talent, retain and support careers through inclusive mentoring, and build on strong foundations like our mentoring programme and website resources.
I encourage anyone passionate about shaping the industry to volunteer with WIM, help us inspire the next generation and make a tangible difference in the careers and lives of future talent.
The past few years have been pivotal for the mortgage market. Where do you think the broker-lender relationship sits now and how do you think it will evolve in the future?
The mortgage market works best when lenders and advisers recognise the value both bring. With around 90% of mortgage business conducted via intermediaries, it highlights how vital brokers are to an effective mortgage market and ensuring consumers receive high-quality, personalised advice. Lenders need advisers to deliver this personalised, high-quality guidance to customers and advisers need lenders to provide clarity, transparency and support. Strong partnerships ensure both sides can operate effectively and, most importantly, that customers receive the right solutions for their circumstances.
Intermediaries are looking for lenders who recognise the value of advice and treat the relationship as a partnership.
Product transfers illustrate this perfectly. In an advice journey, they are far from transactional. Advisers take time to review the market, discuss changes in clients’ circumstances and future plans, evaluate options, and consider adjustments to repayment strategies or mortgage terms – alongside protection reviews where needed. This demonstrates the value of personalised advice, something a purely digital transaction simply cannot replicate. The strongest relationships are built on consistency, transparency and clarity.
There is a lot of talk around artificial intelligence (AI) and technology and how it will change the mortgage space. What is AMI’s strategy around this?
At AMI, we view technology and AI as tools to support, not replace, the human connection at the heart of the mortgage journey. Buying a home is personal and emotional, and customers often seek reassurance from an adviser before making final decisions. Future view is a ‘human-first, AI-supported’ approach: advisers lead the process, while technology enhances efficiency in fact-finding, document verification, product filtering, and compliance. Technology will enable faster decisions, greater transparency, and more streamlined experiences, while advisers provide the guidance, support and advocacy that machines cannot replicate.
Consumer expectations will evolve so we will need to embrace a hybrid, AI-augmented approach to advice to meet those needs. Ensuring decisions are quicker and data-driven while maintaining the personal touch. Our industry is resilient and adaptable; by combining technology with human expertise, we can deliver smarter, safer and more customer-focused outcomes for everyone.
What do you think the biggest challenges and opportunities are for brokers going into 2026, and how do they fit in with AMI’s plan for the upcoming year?
As we move into 2026, advisers face a complex landscape of challenges and opportunities. Time pressures continue to dominate, as advisers juggle the demands of running their business while delivering exceptional service. Product pricing is on a downward trajectory, which, while benefitting customers, increases workloads for brokers as they work tirelessly to ensure they are doing the right thing for every client. Regulatory pressures add another layer of complexity, requiring constant vigilance and adaptation.
Despite these pressures, brokers are remarkably resilient. Their commitment to clients drives a pragmatic, solutions-focused approach, meeting challenges with a can-do attitude.
AMI will continue to support advisers to navigate through this environment. By providing the tools, insights and frameworks to navigate regulatory change, streamline processes and respond effectively to market pressures, we aim to help advisers not just manage these challenges but turn them into opportunities to thrive.
What would you want the mortgage industry to know about AMI?
AMI is the intermediary advocate, dedicated to championing the value and importance of advice working closely with regulators, government, lenders, trade bodies and other key industry stakeholders to ensure the intermediary voice is heard at every level.
As a sector, we are stronger together; the more members we have, the greater our influence. AMI membership reflects your commitment to the industry today and for the future. Members gain access to exclusive resources, member-only content, invitations to key meetings, and opportunities to shape consultations and policy. Regular updates and guidance cut through the noise, helping firms stay informed, compliant and competitive.
AMI provides an independent space for discussion, enabling advisers and firms to share views and shape the sector’s future. Our goal is fair, proportionate regulation, and we support members with expert guidance, insight and practical tools that make a real difference to their business.
AMI amplifies the value of advice, ensuring it remains at the heart of the housing market and shaping policy that supports choice, protection and great customer outcomes.
