PRA is consulting on proposed amendments to the Housing Part of the Rulebook in respect of second and subsequent charge mortgage contracts. Following implementation of the Mortgage Credit Directive, second and subsequent charge mortgage contracts will fall under the definition of a regulated mortgage contract from 21 March. PRA proposes, for the moment, to keep its current policy of excluding these contracts from the loan to income (LTI) flow limit. It intends to consult on including these loans in the LTI flow limit in 2017. Consultation closes on 11 March. (Source: PRA consults on amendments to second mortgage rules)