Nikhil Rathi, FCA chief executive, has delivered a speech on the future of the mortgage market at the L&G Mortgage Club’s 30th Anniversary Conference.
The speech highlighted that while the market is currently healthy, the FCA’s Mortgage Rule Review seeks to ensure it remains appropriate moving forwards.
Rathi also highlighted recent clarifications around the FCA’s approach to mortgage lending, that around 85% of the market have updated their operations, and that Savills estimates that these changes could increase first-time buyer transactions by up to 24% in the next five years.