UK Finance responds to FCA mortgage market interim report

Responding to the Financial Conduct Authority’s (FCA) interim report into the mortgage market, Jackie Bennett, Director of Mortgages at UK Finance, commented:

“Today’s interim report highlights that, in the main, the mortgage market is working effectively for the vast majority of borrowers. The industry is committed to lending responsibly and ensuring that competition in the market works to the benefit of all customers.

“We note the FCA’s points regarding perceived areas of weaknesses within the market, particularly around customers who currently may be unable to switch products. We will be working through the FCA’s recommendations and continuing to engage closely with the regulator over the coming weeks as we respond to the consultation.”

Kindly shared by UK Finance