No change in mortgage regulation following Brexit
The latest announcement from the Financial Conduct Authority is that the regulation surrounding the mortgage market will remain unchanged following Britain’s decision to exit the EU. This was reported on the Mortgage Introducer website on 24th June 2016*.
What this means for home owners and buyers
Adam Nanson, Managing Director of Your Mortgage Expert comments:
“Most of the regulation surrounding the mortgage market is derived from EU legislation, including the recently implemented Mortgage Credit Directive. All of this legislation is designed to help protect consumers and ensure that mortgage brokers and lenders carry out the necessary measures to ensure consumers understand and can afford their financial commitment.”
How Your Mortgage Expert can help
“While we don’t have a crystal ball and can’t fully predict what is going to happen in the financial sphere over the forthcoming months and years. What we do know is that firms such as ours will continue to adhere to the current mortgage regulation to make sure consumers are protected.
“We are keeping abreast of the emerging story. And, if any of our customers or the wider public wish to speak with us, then we are more than happy to take the time to discuss the situation as it currently stands.”
We don’t charge for the initial consultation, so by speaking to us, you are under no obligation. We are based in Salisbury, Wiltshire, but we can help you no matter where you live in the UK.
Simply call us on 01722 322683 or complete a contact us form on our website and tell us when it would be best to get back in touch with you.
The information contained within this article was correct at the time of publication. It is intended for information only and does not constitute advice. TenetLime cannot be held responsible for information that was correct at the time of publication but subsequently changes or goes out of date due to changes in legislation. For further information, contact Your Mortgage Expert on 01722 322683.
A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
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