Regulatory Alerts2020-07-24
Added · Updated
CP20/13: Removing barriers to intra-group switching and helping borrowers with maturing interest-only and part-and-part mortgages
The Financial Conduct Authority issued consultation paper CP20/13 to address barriers preventing borrowers from switching lenders within the same banking group. The document proposes changes to support borrowers with maturing interest-only and part-and-part mortgages by facilitating easier transitions between internal mortgage products. These measures aim to reduce friction for customers seeking to retain their mortgage with their current lender while adjusting terms upon maturity.