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Simplifying UK mortgage rules, affordability assessments, and Consumer Duty
The FCA's mortgage rule review marks the most significant rethink of residential lending regulation in years. What does simplification actually mean for firms operating under these rules today?
How will streamlined affordability assessments change how lenders handle borrowers looking to reduce their mortgage terms? And what has the retirement of previous FCA guidance left in its place?
Jean Price, counsel at A&O Shearman, and associate Giannis Giortzis join knowledge lawyer Louise Bralsford to unpack the consultation's key proposals. These include the removal of the interaction trigger, the…
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