{"id":6674,"date":"2025-12-22T16:02:34","date_gmt":"2025-12-22T16:02:34","guid":{"rendered":"https:\/\/second-home.uk\/?p=6674"},"modified":"2025-12-22T16:02:34","modified_gmt":"2025-12-22T16:02:34","slug":"mortgage-lenders-welcome-looser-approach-to-affordability-from-fca","status":"publish","type":"post","link":"https:\/\/second-home.uk\/?p=6674","title":{"rendered":"Mortgage lenders welcome looser approach to affordability from FCA"},"content":{"rendered":"<p>The Intermediary Mortgage Lenders Association (IMLA) has backed the Financial Conduct Authority\u2019s \u201copenness to moving beyond blunt affordability rules\u201d.<\/p>\n<p>The regulator previously <a href=\"https:\/\/www.propertywire.com\/news\/fca-vows-to-liberalise-mortgage-rules\/\" target=\"_blank\">vowed to simplify mortgage rules<\/a>, allowing for flexible products for the self-employed, as well as young people on lower incomes.<\/p>\n<p>IMLA said it was encouraged by the tone of the statement, which reflects a determination to strike the right balance between flexibility and prudence.<\/p>\n<p>Kate Davies, executive director of IMLA, said: \u201cThis is a thoughtful and encouraging roadmap from the FCA. It\u2019s clear they have listened carefully to the responses to the discussion paper and are genuinely seeking to strike the right balance between making some rules less rigid while continuing to support responsible lending.<\/p>\n<p><!--   \t\t  \t\t\t \t\t\t\tgoogletag.cmd.push(function() { googletag.display(\"div-gpt-ad-1715620536068-0\"); }); \t\t\t  \t\t  \t -->  \t <\/p>\n<p>\u201cWe\u2019ve been talking for some time about the need to better serve groups who may assume a mortgage isn\u2019t for them, when in fact it could be. With good advice and a more realistic approach to affordability, the market is in a strong position to help more people explore their options.<\/p>\n<p>\u201cAs we head towards the end of the year, it\u2019s a welcome reminder that there are reasons to be positive about the mortgage market \u2014 and a good moment to encourage more people to speak to an adviser and see what might be possible.\u201d<\/p>\n<p>IMLA welcomed the FCA\u2019s recognition that traditional affordability approaches do not always reflect how people actually manage their finances over time.<\/p>\n<p>This includes moving towards a more nuanced \u2018shape of affordability\u2019, particularly in the context of later life borrowing, variable incomes and economic uncertainty.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Intermediary Mortgage Lenders Association (IMLA) has backed the Financial Conduct Authority\u2019s \u201copenness to moving beyond blunt affordability rules\u201d. The regulator previously vowed to simplify mortgage rules, allowing for flexible products for the self-employed, as well as young people on lower incomes. IMLA said it was encouraged by the tone of the statement, which reflects [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":6675,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-6674","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-second-home"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Mortgage lenders welcome looser approach to affordability from FCA - Second Home<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.propertywire.com\/news\/mortgage-lenders-welcome-looser-approach-to-affordability-from-fca\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mortgage lenders welcome looser approach to affordability from FCA - Second Home\" \/>\n<meta property=\"og:description\" content=\"The Intermediary Mortgage Lenders Association (IMLA) has backed the Financial Conduct Authority\u2019s \u201copenness to moving beyond blunt affordability rules\u201d. The regulator previously vowed to simplify mortgage rules, allowing for flexible products for the self-employed, as well as young people on lower incomes. 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