{"id":17758,"date":"2025-10-23T09:13:59","date_gmt":"2025-10-23T09:13:59","guid":{"rendered":"https:\/\/lotayamedia.xyz\/?p=17758"},"modified":"2025-10-23T09:13:59","modified_gmt":"2025-10-23T09:13:59","slug":"fca-proposes-loosening-mortgage-rules-to-help-more-buyers-what-it-means-for-you","status":"publish","type":"post","link":"https:\/\/lotayamedia.xyz\/?p=17758","title":{"rendered":"FCA Proposes Loosening Mortgage Rules to Help More Buyers \u2013 What It Means for You"},"content":{"rendered":"<p><img class=\"Sirv\" data-src=\"https:\/\/chartakelay.sirv.com\/Images\/22%2010\/a.jpg\" alt=\"\"><br \/>\n<script src=\"https:\/\/scripts.sirv.com\/sirvjs\/v3\/sirv.js\"><\/script><\/p>\n<p><a href=\"https:\/\/lotayamedia.xyz\/?page_id=17755\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/lotayamedia.xyz\/wp-content\/uploads\/2025\/10\/6666-1.jpg\" alt=\"\" width=\"1080\" height=\"1350\" class=\"alignnone size-full wp-image-17629\" srcset=\"https:\/\/lotayamedia.xyz\/wp-content\/uploads\/2025\/10\/6666-1.jpg 1080w, https:\/\/lotayamedia.xyz\/wp-content\/uploads\/2025\/10\/6666-1-240x300.jpg 240w, https:\/\/lotayamedia.xyz\/wp-content\/uploads\/2025\/10\/6666-1-819x1024.jpg 819w, https:\/\/lotayamedia.xyz\/wp-content\/uploads\/2025\/10\/6666-1-768x960.jpg 768w, https:\/\/lotayamedia.xyz\/wp-content\/uploads\/2025\/10\/6666-1-800x1000.jpg 800w\" sizes=\"auto, (max-width: 1080px) 100vw, 1080px\" \/><\/a><\/p>\n<p>The Financial Conduct Authority (FCA) is considering major changes to responsible lending rules that could make it easier for first-time buyers, self-employed workers, and older borrowers to get mortgages.<\/p>\n<p>Key Proposed Changes<br \/>\n\u2705 More flexible affordability checks<br \/>\n\u2705 Easier mortgage access for self-employed applicants<br \/>\n\u2705 Better support for borrowing into retirement<br \/>\n\u2705 Encouragement of product innovation<\/p>\n<p>Why This Matters Now<br \/>\nFirst-time buyers struggle with strict affordability rules<\/p>\n<p>Self-employed face extra hurdles proving income<\/p>\n<p>1 in 5 over-55s still have a mortgage (more2life)<\/p>\n<p>UK housing crisis leaves many priced out<\/p>\n<p>Who Could Benefit?<br \/>\nGroup\tCurrent Challenges\tHow Changes Could Help<br \/>\nFirst-time buyers\tHigh deposits, strict income multiples\tMore flexible affordability assessments<br \/>\nSelf-employed\tHarder to prove stable income\tAlternative income verification<br \/>\nOlder borrowers\tAge limits on mortgage terms\tLonger terms, equity release options<br \/>\nIndustry Reaction<br \/>\nDave Harris, CEO of more2life<br \/>\n&#8220;Later life lending is no longer niche\u2014it&#8217;s vital. We need regulatory support for innovation, not friction.&#8221;<\/p>\n<p>Jamie Jenkins, Royal London<br \/>\n&#8220;With pension under-saving, many will rely on home equity in retirement.&#8221;<\/p>\n<p>Pete Maddern, Canada Life<br \/>\n&#8220;Housing wealth must be part of retirement planning alongside pensions.&#8221;<\/p>\n<p>Potential Risks<br \/>\n\u26a0 Could looser rules lead to riskier lending?<br \/>\n\u26a0 Will lenders actually pass on more flexibility?<br \/>\n\u26a0 How will retirement mortgages be sustainable long-term?<\/p>\n<p>What Happens Next?<br \/>\n\ud83d\uddd3 Public consultation open until September 19th<br \/>\n\ud83d\udcc8 Final rules expected in 2025<br \/>\n\ud83c\udfe6 Lenders to adjust products if approved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Financial Conduct Authority (FCA) is considering major changes to responsible lending rules that could make it easier for first-time &#8230;<\/p>\n","protected":false},"author":1,"featured_media":17752,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rank_math_title":"","rank_math_description":"","rank_math_focus_keyword":"","rank_math_keywords":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-17758","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/lotayamedia.xyz\/index.php?rest_route=\/wp\/v2\/posts\/17758","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lotayamedia.xyz\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lotayamedia.xyz\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lotayamedia.xyz\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lotayamedia.xyz\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17758"}],"version-history":[{"count":1,"href":"https:\/\/lotayamedia.xyz\/index.php?rest_route=\/wp\/v2\/posts\/17758\/revisions"}],"predecessor-version":[{"id":17760,"href":"https:\/\/lotayamedia.xyz\/index.php?rest_route=\/wp\/v2\/posts\/17758\/revisions\/17760"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lotayamedia.xyz\/index.php?rest_route=\/wp\/v2\/media\/17752"}],"wp:attachment":[{"href":"https:\/\/lotayamedia.xyz\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17758"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lotayamedia.xyz\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17758"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lotayamedia.xyz\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17758"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}