Mortgage Rules Shake Up - For Interest-only And Self-Employed Mortgages

New FCA mortgage rules to help Britain’s growing army of later-life self-employed

The FCA is proposing flexible new mortgage rules to help the surging number of self-employed and later-life workers left behind by traditional lending.

Mortgage Rules Shake Up - For Interest-only And Self-employed Mortgages

An overhaul of how interest-only mortgages and other lending criteria work has been proposed by the Financial Conduct Authority. A new consultation paper into the FCA mortgage rules proposes a raft of changes to make it easier for first time buyers, older borrowers and the self-employed to get a mortgage. Interest Only Mortgage Proposals Its proposals around interest-only mortgages and part-and-part mortgages, include: Not requiring borrowers t…

BSA welcomes FCA's Mortgage Rule Review proposals

Paul Broadhead said: “The FCA proposals are a welcome step towards a more dynamic, accessible and inclusive mortgage market."