FCA to investigate competition in the mortgage sector
The City Watchdog has launched an investigation into competition in the mortgage market.
The Financial Conduct Authority (FCA) wants to find out if the changes introduced as part of the Mortgage Market Review are causing unnecessary problems. The regulator is also keen to review expansion and innovation issues across the industry.
Christopher Woolard, director of strategy and competition at the FCA, said: “For millions of consumers a mortgage is one of the biggest, if not the biggest, financial transaction they will enter into in their lifetime.
“Competition can play a key role in ensuring that the sector works well, delivering consumer benefits through lower prices, better customer service, and more product choice.
“We are seeking stakeholders' views on competition in the mortgage sector. These views, together with evidence from the FCA's wider programme of work on mortgages, will help inform any future FCA work on this key sector of the economy, including any future competition market study.”
If you are looking for help to secure a mortgage, call Trinity on 020 7016 0790.
Get started today
Speak to one of our mortgage experts. Book an appointment to come and see us or request one of our experts to call you.
