Mortgage products
The following issue updates are available for Mortgage products.
Adverse credit mortgages (also known as sub prime or non-conforming mortgages)
21 July 2011 | What is an adverse credit mortgage? Where can you find more information? This page also includes the results of the FSA thematic inspection from July 2007.
APR calculations
16 March 2011 | Explains what the Annual Percentage Rate of Charge (APR) is and how it is calculated.
Buy-to-let
3 November 2010 | This page provides an overview of the buy-to-let mortgage market outlining the main issues currently facing buy-to-let and the wider private rented sector.
CAT standards
16 March 2011 | An explanation of "CAT" standards and what the standard is for mortgage products.
CML Cymru: developments in retail policy and lending
15 April 2011 | This page provides an update on developments in retail policy and lending issues in Wales and the work of the CML Cmyru.
Codes and Statements of Practice
16 March 2011 | This page provides information about a number of Codes and Statements of Practice which CML members have historically been asked to comply with.
Credit reference agency searches
21 February 2011 | This web page provides guidance on the use of searches and leaving "footprints" on consumers' credit files.
Developments in private rented sector policy
14 August 2009 | This document provides an update on issues relating to the Rugg review, the government response to the review and other recent government announcements on the private rented sector.
Endowment mortgages
31 August 2011 | This page explains the background to endowment complaints, including the ABI's Code of Practice, and summarises recent developments. The most recent update summarised the data for Q2 2008 on endowment complaints.
Equity release
21 July 2011 | This provides an overview of the current position on equity release, including an update on the FSA work on good practices in the lifetime mortgage market.
Freedom of Information Act 2000
16 March 2011 | This page reports two decisions, both relating to the Financial Services Authority, made by the Information Commissioner under the Freedom of Information Act. The most recent update relates to the first of a series of judgments expected.
FSA buy-to-let thematic review
21 July 2011 | The FSA has shared with lenders a summary of the findings of its thematic review of buy-to-let lending.
FSA's comparative information tables
21 December 2011 | This page gives information about the FSA's comparative tables.
Green mortgages
9 June 2011 | This page provides some background information on green mortgages.
Housing benefit reform: recent developments
6 September 2011 | This paper provides an overview of the government reforms to the calculation and payment of housing benefit in the private rented sector. It also addresses the issues that the reforms pose in the social rented sector for lenders involved in funding housing associations.
Islamic home finance
8 February 2010 | Background on Islamic home finance and an overview of the issues.
Lifetime mortgages - FSA capital requirement under the standardised approach
1 February 2008 | This paper outlines the FSA's guidance on how to calculate the capital requirement for lifetime mortgages under the standardised approach of Basel 2, confirming the treatment agreed with industry over the summer.
Mortgage market review
23 June 2011 | The FSA's mortgage market review (mmr) aims to deliver a sustainable market for pariticipants and flexible for consumers. We agree with these high-level aims but are concerned that the detailed proposals could have broad ranging negative impacts. This page has been updated following our response to the consultation paper on disclosure and distribution.
Payment protection insurance (PPI)
19 May 2011 | This webpage provides a summary of the history of the Competition Commission inquiry into the Payment Protection Insurance (PPI) market, its findings and the remedial action required. Its also tracks the regulatory actions of the FSA and FOS regarding PPI complaints handling and redress.
Policy and market developments in Northern Ireland
10 August 2011 | This page provides updates on significant developments in Northern Ireland, including the launch of the Commission for the Future of Housing in Northern Ireland.
Private landlords in Scotland - regulation
30 August 2011 | This policy issue deals with a registration scheme for private landlords which was introduced in Scotland on 30 April 2006. It has implications for landlords, tenants and lenders.
Shortfalls on interest-only mortgages
16 March 2011 | On 19 May 2006, the FSA published its consumer fact sheet "Will your investment or savings plan pay off your mortgage?". The fact sheet provides information to consumers facing a shortfall at the end of the mortgage term.
Tenancy deposit protection
22 July 2011 | This provides an overview of the schemes for tenancy deposit protection introduced on 6 April 2007.
The position of unauthorised tenants when a landlord defaults on their mortgage
18 August 2011 | This page summarises the issues surrounding enforcement action by lenders when a property is tenanted. The Mortgage Repossessions (Protection of Tenants etc) Act 2010, which came into force on 1 October 2010, provides new protection for unauthorised tenants.
