Mortgage Regulation

The Financial Services Authority is responsible for the regulation of the majority of mortgage sales.

Mortgage regulation is still relatively new and we have planned the effectiveness review in stages to identify trends and measure progress against the intended outcomes over time. Mortgage advisers have had a relatively benign economic climate in which to adapt to mortgage regulation.
The Financial Services Authority (FSA) is an independent regulator set up by the Government to look after the financial services industry and protect customers. Mortgage Regulation was introduced on 31st October 2004 and replaces the previously known Mortgage Code.
This is a good moment to ask whether mortgage regulation is working and to address any shortfalls. For example Northern Rock, Equitable Life, The Pension Crisis, The Endowment Crisis, shares short selling etc.

. FSA mortgage regulation headache” The one FSA mortgage regulation that will put considerable strain on this process is the need to provide a “durable” (printed or emailed) personalised Key Facts Illustration (KFI) for telephone based mortgage enquiries, offer stage proposals, product switches and party additions or removals.
Once you have spoken to an adviser, they will send you a Key Features Illustration (KFI) which fully complies with the requirements of the Financial Services Authority Mortgage Regulation.
Letting may not be included. However if you apply for a mortgage on a