The FCA rule change everyone missed that could upend the mortgage market

cityam

02/19

BRISTOL, ENGLAND - OCTOBER 08: A estate agent's board is seen outside a property on October 8, 2014 in Bristol, England. On the first anniversary of the introduction of second phase of the Help to ...

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On the first anniversary of the introduction of second phase of the Help to ...</p>\n\n<a href=\"https://www.cityam.com/the-fca-rule-change-everyone-missed-that-could-upend-the-mortgage-market/\">网页链接</a>\n\n</div>\n","source":"cityam_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The FCA rule change everyone missed that could upend the mortgage market</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe FCA rule change everyone missed that could upend the mortgage market\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">cityam</strong><span class=\"h-time small\">2026-02-19 13:14</span>\n</p>\n</h4>\n</header>\n<article>\n<div>\n<p>BRISTOL, ENGLAND - OCTOBER 08:  A estate agent's board is seen outside a property on October 8, 2014 in Bristol, England. On the first anniversary of the introduction of second phase of the Help to ...</p>\n\n<a href=\"https://www.cityam.com/the-fca-rule-change-everyone-missed-that-could-upend-the-mortgage-market/\">网页链接</a>\n\n</div>\n\n<div class=\"bt-text\">\n\n\n<p> 來源：<a href=\"https://www.cityam.com/the-fca-rule-change-everyone-missed-that-could-upend-the-mortgage-market/\">cityam</a></p>\n<p>為提升您的閱讀體驗，我們對本頁面進行了排版優化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"FCA","symbol_name":"First Trust China AlphaDEX Fund","start_time":0,"source_url":"https://www.cityam.com/the-fca-rule-change-everyone-missed-that-could-upend-the-mortgage-market/","article_id":"2612471712","we_media_id":null,"thumbnails":["https://www.cityam.com/wp-content/uploads/2026/02/house-for-sale-e1771420948397.jpg?w=824&h=463&crop=1"],"rights":{"source":"cityam_highlight","url":"https://www.cityam.com/the-fca-rule-change-everyone-missed-that-could-upend-the-mortgage-market/","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2612471712","pubTimestamp":1771478040,"columns":[],"sourceInfo":{"source_id":"cityam_highlight","name":"cityam"},"weMediaInfo":null,"summary":"Get weekly sparky insight and expert commentary on markets, entrepreneurship and innovation from CityAM’s Opinion Editor, delivered every Saturday.This is not deregulation, nor is it a loosening of standards. Instead, it is an acknowledgement that rigid, one-size-fits-all tests increasingly fail to reflect the realities of today’s labour market. More people have variable incomes, multiple income streams or self-employed work. Many can comfortably afford repayments over the life of a mortgage, yet fail conservative stress tests designed for a different economic era.Greater regulatory clarity around affordability does three important things. It reduces barriers for borrowers who are creditworthy but poorly served by existing rules. It lowers execution risk for lenders, making mortgage innovation more commercially viable. And it enables alte","collect":0,"end_time":0,"defaultTopTitle":"cityam.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"FCA":"First Trust China AlphaDEX Fund"},"translate_title":"每个人都错过的FCA规则变化可能会颠覆抵押贷款市场","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"FCA":1.5},"content_text":"BRISTOL, ENGLAND - OCTOBER 08:  A estate agent's board is seen outside a property on October 8, 2014 in Bristol, England. On the first anniversary of the introduction of second phase of the Help to Buy scheme, which provides a government partial guarantee on high loan-to-value mortgages, a new survey from the The Centre for Economics and Business Research (CEBR) claims that house prices in 2015 are set for their first decline since 2011.  (Photo by Matt Cardy/Getty Images) The FCA has set out a new, more pragmatic approach to affordability assessments that could open up the market, increasing competition and benefiting consumers and lenders alike, says Fernando ZandonaMortgages, and who provides them, have hardly changed in decades. The mortgage market remains one of the few sectors of UK financial services that seems impenetrable to the new breed of fintech providers. Ten lenders dominate the market, with just three controlling almost half of all lending.This level of concentration does not create an environment where innovation thrives.The industry likes to blame a lack of progress on tech. In reality, it’s capital, and the regulation that governs its availability. This is why fintech disruption has flourished in unsecured personal lending but largely bypassed mortgages. Conservative affordability rules, while rigid stress testing and high capital requirements made experimentation expensive and execution risk high. New underwriting approaches struggled to gain approval, while scale incumbents were structurally advantaged. The outcome was stability, but also stagnation. \n\nThat is now beginning to change.\n\n\n\n\n\n\nFree Thinking - City AM Opinion Newsletter\nGet weekly sparky insight and expert commentary on markets, entrepreneurship and innovation from City AM’s Opinion Editor, delivered every Saturday.\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nIn December, the Financial Conduct Authority (FCA) set out the next phase of its mortgage rule review, signalling a more pragmatic approach to affordability assessments and stress testing. It did not generate headlines – but it should have. By giving lenders more discretion to assess borrower affordability, the FCA is reducing the regulatory friction that has favoured scale incumbents and discouraged alternative underwriting models.Deregulation?This is not deregulation, nor is it a loosening of standards. Instead, it is an acknowledgement that rigid, one-size-fits-all tests increasingly fail to reflect the realities of today’s labour market. More people have variable incomes, multiple income streams or self-employed work. Many can comfortably afford repayments over the life of a mortgage, yet fail conservative stress tests designed for a different economic era.Greater regulatory clarity around affordability does three important things. It reduces barriers for borrowers who are creditworthy but poorly served by existing rules. It lowers execution risk for lenders, making mortgage innovation more commercially viable. And it enables alternative underwriting models that better assess real-world affordability.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}