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Treasury publishes mortgage legislation

The Treasury has today published its new regulation for mortgage advice following the conclusion of consultation started in February.



It says once the European Parliament adopts the Insurance Mediation Directive, expected in September this year, there will be a further announcement about the timetable for implementation of mortgage regulation. This was originally intended to come in from the second quarter of 2004.

The FSA is expected to begin its consultation next week.

Financial secretary to the Treasury Ruth Kelly says: “Buying a mortgage is the biggest financial decision most people will ever make. It is vital that people make the right choice – these regulations make it easier to do that. I am grateful to all those who took part in the consultation.”

 

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