FCA to introduce underwriting assessment for interest-only mortgages

Carmen Reichman
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The Financial Conduct Authority (FCA) plans to introduce a "robust underwriting assessment" to be performed by lenders before issuing interest-only mortgages, letters published today have revealed.

The regulator, which will take over the regulation of consumer credit next April, will toughen up the rules for credit lenders, particularly those issuing interest-only mortgages, Martin Wheatley, ...

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