FCA targets mortgage lenders’ support for borrowers

The FCA issued draft guidance on 7 December 2022, reminding lenders of the options available to support customers manage their mortgage payments.

The draft guidance seeks to clarify the effect of existing rules, highlighting the flexibility mortgage lenders have to tailor their support to struggling customers, particularly as a result of the cost of living. The FCA also supplemented the draft guidance with additional information for borrowers explaining the range of support available.

Download this At a glance to see a detailed summary of the draft guidance, and what firms need to do.