FCA warns MMR 'gamers' in echo of RDR threat

In a final briefing on the forthcoming regulations, which hit the statute books later this week, the regulator also said using buy-to-let (BTL) products as a back door into residential home ownership has long been an area of concern.  BM Solutions, the buy-to-let division of Lloyds Banking Group, reversed its policy of lending BTL to first-time buyers a month after introducing it, fearing novice buyers were avoiding stricter affordability criteria by applying for investor loans instead. But Linda Woodall, director of mortgages and consumer lending, said the existence of "unscrupulous"...