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Plan to free 'mortgage prisoners' revealed by FCA
The City regulator is planning a change of rules that could lower the housing costs of thousands of so-called "mortgage prisoners". Some 140,000 homeowners are trapped on high interest-rate home loans ... read more
REVEALED: How up to 140,000 British homeowners were hit after Sajid Javid axed plans to help mortgage prisoners
A freedom of information request submitted to the Treasury by This is Money has revealed that plans ... mortgage prisoners with the Government and the regulator but so far just 10,000 borrowers were ... read more
FCA Sets Out Plans To Help Free 'Mortgage Prisoners'
“We are particularly concerned about consumers — who are commonly referred to as mortgage prisoners — who are currently unable to switch,” Chris Woolard, the FCA’s executive director ... The watchdog ... read more
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News Analysis: Force lenders to free mortgage prisoners, MPs and peers urge
MPs have called for lenders to be forced to apply the FCA’s new affordability rules to help free mortgage prisoners ... According to the FCA’s projections, plans for a modified affordability test for ... read more
Hope for 'mortgage prisoners’ as MPs and regulator act to free them
It has signed up to a voluntary code to help mortgage prisoners and is working with the industry and FCA on further steps. The regulator recently set out plans to make it easier for mortgage prisoners ... read more
FCA tackles mortgage prisoners with new rules
Alongside the final report of its Mortgages Market Study published this week (March 26), the regulator published a consultation paper setting out plans to reduce ... rules to help free mortgage ... read more
Rule change to free mortgage prisoners could happen 'fairly quickly'
There is "no reason to hang around" on introducing a new rule that will free up to 140,000 mortgage prisoners ... Under the plans, affordability checks will be relaxed and changed from an "absolute ... read more
Mortgage prisoners bill read to MPs
Mortgage ... bit to help free the mortgage prisoners.” There have already been some moves made by regulators and trade bodies to help mortgage prisoners, but Elphicke says these don’t go far enough. ... read more
FCA shakes up mortgage prisoner rules
The Financial Conduct Authority has announced it will consult on changes to its responsible lending rules in an effort to help free ... of mortgage prisoners with the government and the FCA and the ... read more
FCA Outlines Plans For Mortgage Advice Rules Shake-Up
Receiving advice sometimes made no difference to whether buyers got the best-value loan, the FCA said. The regulator plans to shake up the market ... The FCA is stepping up efforts to free so-called ... read more