Regulator consults on mortgage market improvements

The Financial Conduct Authority (FCA) has launched a consultation on a potential overhaul of mortgage issuance and advice rules. The regulator said it wants to make it "easier, faster and cheaper for borrowers to make changes to their mortgage." Under the proposals, some homeowners could find it easier to lower the total cost of their borrowing by reducing their mortgage term. Emad Aladhal, the FCA’s director of retail banking, has called on the industry to take up “the gauntlet of innovation” and use improved flexibility "to make meaningful progress.” He suggested that lenders, developers, regulators and the government have a collective responsibility to address the "structural challenges facing the UK’s current housing market."

City AM (08/05/2025)