The FCA has said the mortgage market can be ‘challenging for people to compare a vast array of home loans on offer with no consistent terminology for fees and charges.’ As well as concerns about the quality and suitability of mortgage advice.
David Blake of Which? Mortgage Advisers said of the FCA’s future review of the mortgage market:
“Anything the governing body can do to put consumers in a more educated and empowered position enabling them to make a more accurate purchasing decision can only be a good thing. It will be interesting to find out the results.”
Read the full report from Reuters here.