On 21 February 2024, the Financial Conduct Authority (FCA) published a webpage outlining its working group on interest-only (IO) mortgages.

The FCA is working with 12 mortgage lenders and administrators to continue its work in the interest-only mortgage market. The group’s primary purpose is to support and inform the FCA’s review of

On 11 December 2023, the European Banking Authority (EBA) published a peer review report on the supervision of creditors’ treatment of mortgage borrowers in arrears under the Mortgage Credit Directive (MCD), which assesses the conduct supervisory approaches of competent authorities in this area.

The review, which was developed in response to

On 19 April 2023, the FCA published a speech by its Director of Retail Banking, David Geale, delivered at the London Institute of Banking and Finance mortgage conference at Congress Centre, London. The speech discusses the FCA’s view of green mortgages.

Mr Geale begins by defining a green mortgage, as a mortgage which includes an


On 2 August 2022, the Financial Conduct Authority (FCA) released its latest statement on switching in the mortgage market.

Among other things the statement notes that the number of mortgage borrowers not switching their mortgage deal, when they could save money by doing so, has declined significantly since 2016. Given the rising

On 23 June 2022, the European Banking Authority (EBA) published an Opinion and Report in response to the European Commission’s call for advice (CFA) on the review of the Mortgage Credit Directive (MCD).

The CFA covered 17 questions across 7 topical areas, which were the evaluation of the MCD, digitalisation, ways to facilitate the cross-border

On 20 June 2022, the Bank of England confirmed that it will be withdrawing its mortgage affordability test recommendation. The withdrawal will come into effect from 1 August 2022.

The mortgage affordability test was introduced in 2014 to guard against a loosening in mortgage underwriting standards and a material increase in household indebtedness. The test

On 28 February 2022, the Financial Policy Committee (FPC) issued a consultation seeking views on the withdrawal of the mortgage affordability test.

In 2014 the FPC issued two recommendations that sought to prevent a loosening in mortgage underwriting standards and a material increase in household indebtedness that could amplify an economic downturn. The recommendations introduced