View more on these topics

The Treasury and FSA respond to mortgage Green Paper

The Treasury and the Financial Services Authority have today issued the official response to the European Commissions Green Paper on mortgage credit in the EU, which reveals the UK is “sceptical” about Commission intervention in mortgage regulation.

In the response, the two government bodies say: “The UK’s recent experience of introducing regulation indicates the cost of intervention can vary greatly depending on the measure concerned.

“For example, significant costs arise from intervening on consumer information and advice. At the same time, the evidence suggests consumers’ information and advice needs are closely linked to the legal and cultural landscape of their specific national markets.

“The UK is therefore sceptical that Commission intervention in this area will prove effective in cost benefit terms, especially given the lack of evidence that action on this front will deliver greater integration.”

Recommended

Market defies pessimists and the outlook is stable

The intermediary market is at the heart of HBOS’ mortgage business. More than 70% of our mortgage business is now introduced through brokers. We have an excellent combination of new and established colleagues in our top team determined to continue to make life difficult for our competitors. We have defined more distinct boundaries between the […]

Mortgage 2000 takes part in spooky stayover

Staff from Mortgage 2000 and parent company moneysupermarket.com have taken part in a spooky stayover to raise money for The Special Care Baby Unit at a local hospital. The team visited the Plas Teg in Wrexham, a 17th century Jacobean mansion listed as one of the most haunted properties in the UK. Once home to […]

Dream comes true as broker wins Platform car

Platform presented broker Duncan Clarke with a mint condition 1968 Mercedes 280 SL car at the the London Mortgage Business Expo. The classic car had been displayed on the Mortgage Strategy stand during the Expo. For the past six months Platform has been offering the car as the star prize in a competition that was […]

Embrace simplicity!

By Fiona Holmes, proposition communications manager When I first took out critical illness cover, I was overwhelmed. It wasn’t just the form filling, it was finding out about the sheer number of illnesses I was covered for. Did it give me peace of mind that I was covered for neuromyelitis optica or systematic lupus erythematosus? […]

Newsletter

News and expert analysis straight to your inbox

Sign up