FLA, the City of London Law Society (CLLS) and the Financial Services Consumer Panel (FSCP) all published their responses on Treasury's consultation on mortgage regulation. Key views were:

  • FLA is worried about the onerous dual regulatory regime Treasury proposals would create for second-charge mortgages and says there is no case for change. It is not opposed to FSA regulation but is not convinced it is necessary;
  • CLLS is worried Treasury's plans will bring within its regime vehicles it intends to leave outside it. It thinks there are simpler ways to achieve Treasury's policy objective, involving changes to FSA rules; and
  • FSCP strongly supports the proposals.