FCA softens remortgaging rules in dash for growth - broker reaction

22 July 2025

Nick Jones, the mortgage sales and marketing director at Access FS, said:

“The simplified affordability assessments and retirement of outdated guidance are very promising steps forward; this paints the FCA in a positive light as a dynamic, pragmatic regulator – it’s clearly a watchdog that is rebalancing rulebooks to align with the government’s growth agenda. These changes are set to allow homeowners to benefit from cheaper products and save them time and money. By allowing lenders to respond to demands more constructively and effectively, it will support competition among banks, building societies and other lenders. The thing that gives me pause is that the FCA has eliminated the rule requiring regulated advice for interactive mortgage discussions. I’m not comfortable with borrowers having conversations with lenders about switching products without consulting a mortgage broker. Good customer outcomes depend on good advice.”