The FCA has published a Call for Inputs to seek views on any aspects of the mortgage sector where competition may not be working well and could be improved.
Christopher Woolard, Director of Strategy and Competition at the FCA, said:
“We are seeking stakeholders’ views on competition in the mortgage sector. These views, together with evidence from the FCA’s wider programme of work on mortgages, will help inform any future FCA work on this key sector of the economy, including any future competition market study.”
The FCA is interested in the range of factors that might affect competition in the provision of loans secured against a property, whether regulated or unregulated, including as a result of:
- the regulatory regime (including changes introduced following the Mortgage Market Review), and any other barriers to entry, expansion or innovation;
- consumers’ ability to effectively access, assess and act on information about mortgage products and services; and
- firms’ conduct and relationships.
The deadline for response to the Call for Inputs is 18 December 2015. An outline of responses received and a confirmation of whether the FCA intend to take any further action will be set out in a Feedback Statement, to be published in Q1 2016.
View FCA launches Call for Inputs on competition in the mortgage sector, 7 October 2015