CCR Magazine

You are here  :Home arrow News arrow FCA Thematic Review: Responsible Lending
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines


Commercial Credit News


FCA Thematic Review: Responsible Lending PDF Print E-mail
Wednesday, 18 May 2016
Matt Andrews, Managing Director, Bluestone Mortgages comments on the FCA’s Thematic Review, ‘Embedding the Mortgage Market Review: Responsible Lending Review’: “We are pleased, and relieved, to see that the FCA is taking seriously the growing issue of lenders being ill-equipped to service borrowers with complex incomes. This review recognises the challenges that self-employed earnings and adverse credit histories present to some firms, and ultimately calls for lenders to ensure that their underwriters are able to accurately assess more complex incomes, and that any automated processes being used are still delivering appropriate lending decisions for customers.

“The UK workforce is increasingly moving to be a combination of contractors, self-employed workers and freelancers, who struggle to access lending due to their complex financial circumstances. With robo solutions looking not at the full picture, but at relatively arbitrary MIs to assess borrower suitability, these responsible borrowers can often find themselves locked out of the market. This is also true for those individuals who may be a good credit risk, but who have experienced a life event which has left a negative impact on their credit scores.

“These borrowers require a deeper underwriting experience to ensure the nature of their situation is fully understood. Innovation in lending is absolutely needed to cater to this sector of the market, however, a balance must be struck between automated technology, and intelligent technology. To ensure a consumer’s individual circumstances are taken into account, and lending decisions are made on a case by case basis, technology in the mortgage market needs to retain its human touch.”

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online


CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road

Registered in England No: 05483197