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Treasury publishes mortgage regulation consultation

The start of the consultation period on mortgage regulation has been announced on February 28 by economic secretary Ruth Kelly.

It contains a range of proposals which it is looking for industry feedback on by April 30 2002.

Kelly says: “Choosing a mortgage is the biggest financial decision that most people will ever make. It&#39s important to get it right first time – mistakes can be costly.

“Cat standards have already been introduced to help borrowers understand mortgages. Regulation will benefit consumers by ensuring a high standard of advice is available across the board and that access to clear and comparable information is easily accessible.

“The consultation document sets out options for the smooth transfer to the FSA. I look forward to receiving comments on the proposals.”

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