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FCA to Lift Affordability Checks, Boosting Property Market

5/9/2025

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Summary

Story summary

The Financial Conduct Authority (FCA) plans to remove affordability checks for homeowners remortgaging to foster competition.
Currently, 90% of homeowners stay with their lenders due to simpler product transfers.
The consultation period runs until June 4, with anticipated changes likely to stimulate the property market.
Analysts foresee enhanced buyer spending power and rising property values from more affordable mortgage options.

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Story summary

The Financial Conduct Authority (FCA) plans to remove affordability checks for homeowners remortgaging to foster competition.
Currently, 90% of homeowners stay with their lenders due to simpler product transfers.
The consultation period runs until June 4, with anticipated changes likely to stimulate the property market.
Analysts foresee enhanced buyer spending power and rising property values from more affordable mortgage options.