FCA to introduce underwriting assessment for interest-only mortgages

Carmen Reichman
clock

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, chief...

To continue reading this article...

Join Professional Adviser

 

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Tap into our community intelligence through our regular Pro Adviser poll.
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on Regulation

CEO of Tilney Smith & Williamson Chris Woodhouse

Tilney Smith & Williamson sees gross inflows of £4.5bn in nine months

AuM rises 9.2% to £56bn up to September

Pedro Goncalves
clock 01 November 2021 • 1 min read
Suspicious activity reports by staff at financial firms exceeded one million during 2019-20

Suspicious activity reports by staff at financial firms exceeded one million during 2019-20

FCA data

Georgie Lee
clock 01 November 2021 • 2 min read

Thank you and goodbye from Retirement Planner

Retirement Planner is, itself, retiring on Thursday 15 October 2021.

Jenna Towler
clock 12 October 2021 • 1 min read