BM Solutions director of mortgages Michael Bolton says the sub-prime market, for those with impaired credit records will particulary benefit from statutory mortgage regulation.
He says years ago, the sub-prime market was particularly dominated by hiigh charging and unfair practices.
Bolton says: “It is now up to all parts of the mortgage market to embrace the spirit of regulation. The statutory regime puts the consumer at the heart of the process. Every good business should look to see how they can embrace this ethos throughout their entire organisation.”