Regulator aims to boost home ownership

The Financial Conduct Authority (FCA) is set to review lenders' risk-taking to enhance home ownership in the UK. The regulator aims to initiate a "public conversation" regarding the "future of the mortgage market" to support economic growth through revised mortgage rules. The FCA's focus includes broadening access for underserved groups, such as first-time buyers and the self-employed. According to the latest Financial Lives survey, only 29% of adults own their homes, a decline from 33% in 2023. David Geale, executive director at the FCA, commented: "We want to evolve our mortgage rules to help more people access sustainable home ownership." The consultation will explore ways to reduce borrowing costs and improve access to affordable mortgage products. The Times notes that the FCA will also consider reforms that could allow renters to use their rental payment history as proof of their ability to afford a mortgage. 

City AM (25/06/2025)   The Standard (25/06/2025)   The Times (25/06/2025)