Afme acts to protect market from FCA review

By Owen Sanderson
12 Jun 2019

The Association for Financial Markets in Europe (Afme) is preparing a response to the UK Financial Conduct Authority’s mortgage market consultation, to try to ensure that rules intended to help ‘mortgage prisoners’ do not hurt the broader UK securitization market.

UK legacy mortgage deals have been some of the biggest business opportunities for European securitization in recent years — but the borrowers underlying the deals have been stymied by government rule changes. They cannot refinance onto new, cheaper fixed rate deals because they cannot meet the strict affordability ...

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