Wednesday, Apr 08, 2015

FCA will regulate some buy-to-let mortgages.

FT: Regulation and buy-to-let

HM Treasury has confirmed the implementation of the European Union’s Mortgage Credit Directive will result in the Financial Conduct Authority regulating some buy-to-let mortgages.
The regulation will affect buy-to-let loans taken out by individuals where the loan is classified as not being ‘commercial’. In practice this will apply to the minority of cases where the borrower has lived in the property, or intends to do so.
The UK is required to implement the Mortgage Credit directive’s requirements by 21 March 2016, in order to meet its treaty obligations.

Posted by khards @ 06:37 PM (3054 views)
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8 Comments

1. nickb said...

In other words, plus ca change.

Wednesday, April 8, 2015 10:12PM Report Comment
 

2. jack c said...

Full regulation of BTL Mortgages is inevitable - just a question of when. Consumer Credit Licensing moving from OFT to FCA provided a clue on this.

Thursday, April 9, 2015 08:57AM Report Comment
 

3. reticent said...

Regulation seems a long way from scrapping them which would be a lot more welcome.

Thursday, April 9, 2015 10:09AM Report Comment
 

4. jack c said...

reticent (Thursday, April 9, 2015 10:09AM)

Agreed !

Thursday, April 9, 2015 10:17AM Report Comment
 

5. bidin'matime said...

They all need proper stress-testing - what kind of idiot bank-manager would lend money on a property yielding less than the long-term interest rate? Oh yes, I forgot - all of them...

Thursday, April 9, 2015 11:11AM Report Comment
 

6. jack c said...

Computer says "YES"

Thursday, April 9, 2015 11:55AM Report Comment
 

7. nickb said...

off topic -ish, but what happened to that Mark Wadsworth chap? Did he cave in and buy a house or was he trolled off by Libertas?

Thursday, April 9, 2015 02:23PM Report Comment
 

8. jack c said...

nickb - Mr Wadsworth moved on from posting here once the debates 'crossed the line' so to speak. As I understand it he could do without the Flak (pun intended) bearing in mind he didn't like most regulars to HPC post under a pseudonym.

Thursday, April 9, 2015 03:24PM Report Comment
 

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