FSA regulations

By Rachel Williams The FSA has yielded to industry pressure and is to regulate all mortgage loans taken out for at least five years. Under the Government's initial proposals announced earlier in 2000, the Consumer Credit Act (CCA) of 1974 was to take responsibility for some loans, including those under £25,000. The amended proposals however will mean certain products, such as flexible mortgages and equity release mortgages, will now be regulated by the FSA, rather than the CCA. John Charcol has welcomed this move as it believes that the governing of mortgages by two regulators would c...