By Rob Aberdein
The Financial Conduct Authority (FCA) and financial press have highlighted the plight of so-called “mortgage prisoners”. That is to say customers trapped in expensive deals and unable to remortgage because of the tightening, in recent years, of affordability assessment criteria and/or because their “zombie banks” no longer offer new products.
With the problems being exacerbated following the Bank of England’s base rate rise in August 2018, Rob Aberdein asks how firms and the FCA might help these customers to wake from their mortgage market nightmares.
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