PS16/7: Future regulatory treatment of CCA regulated first charge mortgages

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PS16/7: Future regulatory treatment of CCA regulated first charge mortgages

18th March 2016, 10:20:AM

In this Policy Statement we report on the main issues arising from Consultation Paper CP15/36 (Future regulatory treatment of CCA regulated first charge mortgages) and publish the final rules.

http://www.fca.org.uk/news/ps16-07-f...arge-mortgages

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Amethyst

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18th March 2016, 10:27:AM

Re: PS16/7: Future regulatory treatment of CCA regulated first charge mortgages

Prior to 31 October 2004, first charge mortgages were regulated under the Consumer Credit Act 1974 (the CCA) if they fell below the relevant CCA financial threshold. In November 2015 the Government made legislation that will make the administration of these mortgages a regulated mortgage activity from 21 March 2016 and the CCA will then no longer generally apply.

http://www.fca.org.uk/static/fca/doc...nts/ps16-7.pdf

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