The Financial Conduct Authority (FCA) is to review mortgage panel arrangements and the role played by advisers in connecting consumers with mortgage products, its director of strategy and competition has said.
The regulator will launch a new "forward-looking" market study later this year after its latest research indicated firms have adapted well to rules introduced by the Mortgage Market Review (MMR) but have not succeeded in creating a competitive market. The FCA started a mortgage market call for input in October. The work heard from 80 organisations and individuals in person, alongside 40 written submissions from a variety of stakeholders, and found consumers faced challenges in making effective choices when shopping for a mortgage. This was particularly apparent when it came to assessi...
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