The Consumer Council's response to the Financial Conduct Authority’s (FCA’s) Mortgages Market Study Interim Report
The Consumer Council of Northern Ireland welcomes the invitation to respond to the Financial Conduct Authority’s (FCA’s) Mortgages Market Study Interim Report. The Financial Conduct Authority have investigated the extent to which certain existing mortgage customers are trapped in high rate mortgages from which they cannot escape.
There is a higher rate of so called ‘mortgage prisoners’ in Northern Ireland than in the rest of the UK. The Consumer Council’s response seeks to ensure consumer need here is represented and fully considered in any future regulation of the mortgage market.