You have less than 1 month to have your say on how mortgages should be accessible in the future.
The financial watchdog is asking whether mortgage rules should be more flexible to help older buyers, the self-employed and reliable renters get on the property ladder.
UK society has changed dramatically over the past decade. There have been huge shifts in the way we live and work and when we retire. Meanwhile, property prices have grown faster than wages, impacting affordability.
But has the mortgage landscape kept pace with this transformation, or should more be done to boost access to home ownership?
The Financial Conduct Authority (FCA) – the financial regulator that sets the rules lenders must abide by – has launched a review to find out and is asking anyone with an interest in the mortgage market to fill out a wide-ranging survey (there are 37 questions in all) by September 19th.
Questions touch on issues such as:
Should it be easier to access lifetime mortgages?
What changes would help the self-employed?
Should the mortgage stress test be changed?
If this is a subject close to your heart, then you can have your say by visiting the link in the comments below and completing the online response form.
We love to hear your thoughts and comments and are happy to answer any questions you have on this or any other property related topic so please feel free to get in touch.
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