Related topic: FCA

The proposals form part of the FCA’s Mortgage Rule Review.

The regulator has confirmed that it will not move forward with 'enhanced advice' proposals.

The rules set clearer standards for how financial services firms should address non-financial misconduct. 

35% of lenders think regulatory scrutiny will ease over the next year.

The regulator has confirmed that it will simplify mortgage rules for first-time buyers.

In one case, Nationwide failed to identify a customer using personal current accounts to receive £27.3m in fraudulent Covid furlough payments.

As targeted support is a one-off service, it does not involve ongoing suitability assessments. 

The regulator is also consulting on ways to further modernise pension rules.

Consumers can use the tool to check if a firm is authorised and has the correct permissions to provide services.

The number of loans with LTV ratios exceeding 90% reached 7.4%, the highest share since 2008.