Which? responds to the FCA looking into simplifying mortgage rules

Rocio Concha, Which? Director of Policy and Advocacy, said: 

"The Financial Conduct Authority and government are right to explore ways to boost economic growth, and Which? would never stand in the way of cutting unnecessary red tape. However, viewing consumer protections as a barrier to economic growth is misguided. 

"Well designed regulations that empower consumers to switch from bad to good products and services which give them the confidence to try new products and services without the fear of being ripped off are essential to creating dynamic markets that reward investment and innovation. 

"Which? research found that instead of viewing regulation as a barrier to economic growth, most businesses saw it as helpful in driving innovation and attracting investment, while also creating a level playing field."

ENDS