FCA boss 'disappointed' at banks over use of new mortgage rules

The Mortgage Market Review, which was designed to curb risky lending, forces banks to question customers' spending habits before offering a loan. But some banks were preventing homeowners from switching to cheaper deals, citing the more stringent rules, the Daily Mail reports. Wheatley (pictured) said he was disappointed, adding: ‘It shows some lenders are not approaching the rules in the spirit that they were intended. ‘They have to decide what level of risk they are prepared to take. That's reasonable. ‘But every firm also has a responsibility to treat their customers fairly ...