FCA calls for help to enable consumers to find best mortgage deals

A new report from The Financial Conduct Authority (FCA) suggests that competition in the mortgage market is working well but also points to ways in which it could work better for more people. It says that is proposals are particularly aimed at helping customers find the best-priced suitable mortgage deal.
The FCA's interim findings show that nearly a third of customers fail to find the cheapest mortgage for them. Its recommended improvements include:
  • making it easier for consumers at an early stage to identify for which mortgage products they qualify, to assess and compare those products and, ultimately, to take out a mortgage
  • removing barriers to innovation in the sale of mortgages
  • making it easier for consumers to assess the strengths of different mortgage brokers
Image: www.cafecredit.com.