New Regulation

The FCA is responsible for regulating UK financial services and aims to use forward-looking and judgement based regulation, with a view to understanding firms’ business models and future strategies. They intervene if they see unacceptable risks to the fair treatment of customers or the integrity of the market.

Mortgage products regulated by the FCA include:

• Residential mortgages, any first or second mortgage or loan secured with a first charge on your home.
• Home Purchase Plans
• Home Reversion Plans
• Sale and Rent Back
• Bridging loans, but only if they are secured with a first charge
• Consumer Buy to Let

Advisers must ensure they have the correct permissions from the FCA before they get involved in administering or selling any of these products. Full guidence is set out in the FCA’s Mortgage Conduct of Business Sourcebook (MCOB)

FCA Links

FCA’s Mortgage Mortgage Conduct of Business Sourcebook (MCOB)
http://www.fca.org.uk/your-fca/documents/waivers/mortgages-conduct-of-business-waivers