The Financial Services Authority has re-opened its consultation paper on Islamic mortgages after it accidentally omitted some of the draft rules from its draft handbook.
The missing rules were those relating to its policy proposals on arrears and repossessions in Mortgages: Conduct of Business 13 – Arrears and repossessions.
In view of this the FSA is re-opening the consultation paper 06/08 on home reversion and home purchase plans - commonly known as Islamic mortgages - for a period of three weeks, running from 9 August to 31 August.
The missing rules do not affect any of the requirements for home reversions.
The FSA is writing to all those who responded to the paper in relation to home purchase plans to let them know of the error.
The consultation initially closed on 21 July.
If you have any comments you would like to add to this story or would like to speak to its author about a similar subject, telephone Emily Perryman on 020 7968 4554 or email [email protected].IFAonline
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