Financial Conduct Authority
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FSA confirms new rules that will hard-wire common sense into the mortgage market
The Financial Services Authority (FSA) has published new rules that put common sense at the heart of the mortgage market and will prevent future borrowers ending up with a mortgage they cannot afford.
The new rules, the outcome of the FSA’s Mortgage Market Review (MMR), will come into effect on 26 April 2014. One measure will be activated immediately to help borrowers who might be trapped by yesterday’s tighter lending criteria.
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