In the recently released final report of the Financial Conduct Authority’s (FCA) Mortgages Market Study, Connect for Intermediaries CEO Liz Syms provides a unique perspective from specialist brokers. This comprehensive report, a culmination of consultations, affirms the FCA’s discoveries from its in-depth examination of first-charge residential mortgages.
While acknowledging the overall effectiveness of the market in various aspects, the report underscores certain shortcomings that have resulted in adverse consequences for specific consumers. In justifying its interim report findings, the regulator addresses concerns raised during consultations, particularly those related to the perception of an excessive focus on price.
The final report outlines distinct areas where the regulator believes improvements are essential for the market to function more effectively. As we delve into the nuances of the findings, it becomes evident that there is room for enhancement in specific segments of the first-charge residential mortgage landscape. Connect for Intermediaries CEO Liz Syms sheds light on these critical aspects, offering valuable insights into the intricacies of the mortgage market and the potential for positive changes that could benefit consumers.
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