Mortgage rule review: first steps to simplify rules and increase flexibility

In this podcast, Jean Price (counsel) and Giannis Giortzis (associate) discuss with Louise Bralsford (knowledge lawyer) the consultation’s key proposals, which are aimed at simplifying mortgage rules, increasing flexibility for both consumers and firms, and supporting better consumer outcomes in line with the new Consumer Duty. Highlights include the removal of the interaction trigger, streamlined affordability assessments for reducing mortgage terms, and the retirement of previous FCA guidance.