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Simpler Rules Should Make Remortgaging Easier, Says FCA
GREATER LONDON, ENGLAND, JUL 21 – The Financial Conduct Authority's reforms aim to reduce borrowing costs and regulatory burdens while supporting innovation and competition in the UK mortgage market, officials said.
- The Financial Conduct Authority announced changes to mortgage rules on July 22, 2025, to simplify remortgaging and term reduction processes in England and Wales.
- These changes follow a wider mortgage rule review and public discussion aimed at reducing outdated guidance and regulatory burden on firms.
- Under the new rules, borrowers can reduce their mortgage term without full affordability assessments, but lenders must still consider affordability and provide support as needed.
- Paul Matthews of Broadstone highlighted that the FCA is implementing important measures to help consumers modify their mortgages more smoothly and access improved guidance on their options.
- The reforms aim to help borrowers save time and money, increase flexibility for lenders to innovate, and support homeownership while maintaining strong protections against fraud such as anti-fraud restrictions on property titles.
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The new mortgage rules that could make your borrowing much cheaper
Homeowners will find it easier to remortgage, saving time and money, under changes confirmed by the Financial Conduct AuthorityThe City regulator said it aimed to simplify matters and allow borrowers greater flexibility to remortgage or reduce their mortgage term under the new changes.The FCA said the latest shake-up is among a series of reforms to mortgage rules aimed at helping people navigate their financial lives by removing outdated guidanc…
·London, United Kingdom
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Coverage Details
Total News Sources18
Leaning Left3Leaning Right1Center3Last UpdatedBias Distribution43% Left, 43% Center
Bias Distribution
- 43% of the sources lean Left, 43% of the sources are Center
43% Center
L 43%
C 43%
14%
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