consumer finance News & Analysis

UK FCA Proposes Mortgage Rule Changes to Enhance Borrowing Access

The UK’s Financial Conduct Authority (FCA) has proposed changes to mortgage rules aimed at improving accessibility for first-time buyers, older applicants, and self-employed individuals. Key changes include allowing lenders to consider a borrower's complete financial situation, revising affordability guidance for retirement interest-only mortgages, and enhancing discretion for lenders on mortgage types. The consultation for these proposals is open until July 28, 2026. These measures are part of the FCA’s broader initiative to align mortgage standards with current consumer needs and economic growth.