UK Watchdog to Loosen Mortgage Rules to Allow for More Products
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000The UK’s financial regulator is weighing a series of reforms for the country’s mortgage market designed to widen access by responding to more flexible working patterns and longer life expectancies.
The Financial Conduct Authority said it would consult the public early next year on a package of measures including simplifying mortgage rules, later-life lending, the use of technology and protecting vulnerable consumers, according to a statementBloomberg Terminal Monday. The watchdog said it plans to have the first rule changes in place later next year.