You are here: Home - News -

Lenders suggest FCA may be back-tracking on MMR

  • 17/05/2018
  • 0
Lenders suggest FCA may be back-tracking on MMR
The Financial Conduct Authority’s (FCA) mortgages market study interim report may suggest the regulator is to pull back on certain measures introduced as part of the mortgage market review (MMR) lenders have suggested.

Speaking at today’s Financial Services Expo Manchester, Dave Rogers, intermediary partnership director at Barclays, said that the report “seems to be a bit of back-tracking on the MMR in terms of its view on price”.

Ian Andrews, managing director of intermediary sales at Nationwide, added that it suggested the FCA has “softened” on the MMR idea that everyone needs advice.

However, Andrews admitted he “couldn’t get his head around” the FCA’s proposal for a tool allowing borrowers to compare different intermediaries, describing it as a “Trip Advisor for clients”.

Charles McDowell, commercial director at Aldermore, said that overall the report was a “fairly strong ringing endorsement” for the industry, warning that it “could have been much, much worse”. However he questioned how some of the theoretical measures discussed in the interim report could actually be implemented practically.

There are 0 Comment(s)

Comments are closed.

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.


Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.


Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.


Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
Read previous post:
BSLA 2018
All the winners of the British Specialist Lending Awards 2018

The winners of the British Specialist Lending Awards have been announced at a gala awards ceremony in central London. Here...