FCA proposes changes to help more people access mortgages

Summary

First-time buyers, older borrowers and the self-employed could find it easier to get a mortgage, as the FCA sets out next steps to help reform the market. Its proposed mortgage rule changes would give lenders more flexibility to consider individual circumstances and develop products that better meet people's needs – while maintaining strong consumer protections.They include:Reducing barriers for lenders to offer flexible repayments for people with variable income, like the self-employed, and ...