The Mortgage Market Review - Common sense at the heart of mortgage lending
Exploring some of the potential competition impacts on participants in the mortgage market
- March 2012
- 119 KB
- The Mortgage Market Review - Common sense at the heart of mortgage lending (PDF)
- Area: Financial Services
In December 2011, the Financial Services Authority (the FSA) published the Mortgage Market Review: Proposed package of reforms. The Mortgage Market Review (MMR) provides commentary and analysis of the problems caused by past poor lending and consumer borrowing decisions, and a clear set of proposals to remove the risk of past mistakes being repeated in the future.
This article, the first in a series on the MMR, highlights the key proposals and policy questions, and explores some of the potential competition impacts on participants in the mortgage market. It also looks at some of the business changes which may need to be implemented as a result of the MMR, both to ensure compliance in new sales and to address legacy issues from past lending.
- Impact of the MMR on the mortgage market
- Consequences for mortgage borrowers and lenders
- Considerations for firms