FSA decides against all-advised mortgage market

In its latest consultation paper on the Mortgage Market Review (MMR), the regulator said it believes it is important to allow consumers the freedom to continue to choose a product for themselves. The FSA mulled switching to an all-advised market, except for internet sales, because the affordability and 'appropriateness' of a mortgage is assessed on advised sales only. Today, it proposes a standardised affordability and appropriateness test across all mortgage sales. "From the consumer's perspective the important outcome is that, so far as possible, they buy a product that is affor...