FCA opens review of competition in the mortgage sector

clock • 1 min read

The Financial Conduct Authority (FCA) has today launched a market study to consider whether competition in the residential mortgage sector can be improved to benefit consumers.

The market study will explore whether available tools, including advice, help mortgage customers make effective decisions at each stage of the consumer journey. It will also assess whether commercial arrangements between lenders, brokers and other players lead to conflicts of interest or misaligned incentives to the detriment of consumers. The regulator said it wants to understand whether consumers are empowered to choose on an informed basis between products and services and are in a position to understand whether these represent good value for money.  The review will also conside...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Regulation

ABI names Phoenix Group CEO as president

ABI names Phoenix Group CEO as president

Succeeds Zurich’s Tim Bailey

Jaskeet Briah
clock 26 February 2025 • 1 min read
FCA reconsidering ongoing advice services rules as review findings revealed

FCA reconsidering ongoing advice services rules as review findings revealed

Advisers delivering suitability reviews in ‘vast majority’ of cases

Jen Frost
clock 24 February 2025 • 2 min read
IPT up to £7.6bn in 24/25

IPT up to £7.6bn in 24/25

£853m in January 2025

Cameron Roberts
clock 21 February 2025 • 1 min read