Why Getting a Mortgage Is About to Get Easier

Why getting a mortgage is about to get easier

Later-life borrowers and first-time buyers are among those who could benefit from relaxed borrowing rules

Mortgage rules to be eased to help first-time buyers, self-employed and older borrowers

First-time buyers, the self-employed and older borrowers could soon find it easier to secure a mortgage under a package of reforms proposed by the Financial Conduct Authority, as the regulator moves to modernise lending rules to reflect changing working lives and demographics. The FCA said it plans to simplify mortgage regulations and loosen restrictions on lenders to allow more flexible products, better suited to people with irregular incomes, …

FCA plans overhaul to widen access to UK mortgages

The FCA has outlined a package of reforms aimed at reshaping the UK mortgage market, with a particular focus on improving access for first-time buyers, the self-employed and other underserved groups. The proposals are also designed to help homeowners make better use of property wealth later in life, while encouraging innovation and strengthening protections for vulnerable consumers. At the centre of the FCA’s plans is a recognition that traditio…

FCA sets roadmap for future-ready mortgage market

The FCA has outlined a series of reforms aimed at reshaping the mortgage market, with a particular focus on first-time buyers, underserved consumers and later-life borrowers. The regulator said the proposals are designed to widen access to affordable mortgages, better reflect modern working patterns and help homeowners make more effective use of property wealth across their lifetime. Under the plans, the FCA will prioritise changes that support …