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The Financial Conduct Authority has published proposals for changes to its mortgage sales requirements which will give consumers more choice in how they buy a mortgage.

The proposals are one part of a package of remedies from the Mortgages Market Study, published earlier this year, which aims to encourage innovation and make it easier for customers to find the right mortgage.

The FCA identified a number of ways its advice rules are acting as a barrier to the development of new tools, which helps customers choose and buy a mortgage and the consultation today, is designed to address the problems … Read more

Down valuation is on the rise and involves lenders valuing your future home at a significantly lower price, when in actuality it is worth thousands more. It counts for 1 in 5 property sales compared to 2 years ago, when this was just 1 in 20. It leaves buyers having to find thousands of pounds or face losing their property.

This rise is the highest it has been since the UK’s financial crash in 2008. Emoov’s chief exec, Russell Quirk said he believed the problem is due to surveyors underestimating the value to “cover their backs” when dealing with the … Read more