Ten years ago, the Mortgage Market Review reshaped our industry. Now, the FCA is retooling the rules again, but this time the focus is speed, flexibility and consumer empowerment.
Last week’s FCA announcement to ease barriers around remortgaging and term changes marks more than a policy update. It reflects a broader shift in mindset: away from prescriptive regulation and towards market-led innovation.
At Movera, we welcome this change. We believe responsible innovation must go hand in hand with consumer protection. But we also believe the burden is now on us, as lenders, brokers, conveyancers and technology providers, to lead the way.
-
We shouldn’t wait for rulebooks to fix friction.
-
We should look hard at our own processes and behaviours.
-
And we should collaborate across the industry to deliver smarter, faster, more human mortgage journeys.
The FCA is effectively handing the reins back to the market. That is a vote of confidence, but also a call to action.
The real question is not what the regulator will do next. It is what we, as an industry, will do now.
By Warren Martin, Director of Operations, Movera
