Overview

• The FCA has launched a public consultation running until September 19 on lenders’ risk appetite and potential mortgage rule changes.
• The review aims to broaden sustainable home ownership by easing access for first-time buyers, self-employed borrowers and those borrowing into retirement.
• Proposals include a rethink of stress test requirements to give lenders more discretion in assessing borrower affordability.
• The consultation also examines measures to lower overall borrowing costs, such as enabling shorter loan terms and simplifying remortgaging for cheaper rates.
• The regulator is inviting views on additional protections for survivors of economic abuse in joint mortgages and on climate-related regulatory interventions.