UK's FCA Urges Second-Mortgage Providers to Address Consumer Protection Gaps

UK's FCA urges second-mortgage providers to address consumer protection gaps

Britain's Financial Conduct Authority (FCA) ​on Thursday ‌called on second charge mortgage ​firms ​to improve consumer protections ⁠after a ​review found ​risks of financial harm to borrowers.

Standards in the second charge mortgage market need to be improved, says FCA

Second charge mortgages are often taken out by people already carrying high levels of debt, who then roll those debts into a new loan.

Second charge mortgages – improving outcomes for consumers

On 12 March 2026, the Financial Conduct Authority (FCA) published the findings of its review of mortgage advice, fees and charges, and affordability assessments by second charge mortgage intermediaries and lenders.The findings are primarily relevant to firms who advise on, or provide, second charge mortgages. But aspects of it may also be of interest to other firms in the wider mortgage market.The FCA found examples of good practice across both …

Second charge market needs to raise standards for consumers: FCA

The Financial Conduct Authority (FCA) has called on second charge mortgage firms to raise standards for consumers. In an FCA review, it says that lenders and brokers in the second charge mortgage market need to consider how they advise customers, assess affordability and charge fees.… The post Second charge market needs to raise standards for consumers: FCA appeared first on Mortgage Finance Gazette.

Second charge mortgage advice ‘needs to change’, says FCA

Second charge mortgage firms have been told to improve the way they advise borrowers and consider suitability for the product. The post Second charge mortgage advice ‘needs to change’, says FCA appeared first on Mortgage Solutions.

FCA calls on second charge market to raise standards for consumers

The Financial Conduct Authority (FCA) has called on second charge mortgage firms to raise standards for consumers. In an FCA review, it says that lenders and brokers in the second charge mortgage market need to consider how they advise customers, assess affordability and charge fees.…The post FCA calls on second charge market to raise standards for consumers appeared first on Mortgage Strategy.