The FCA has proposed a package of mortgage rule changes designed to widen access for borrowers who have historically struggled to secure lending — particularly first-time buyers, older homeowners, the self-employed, and those with non-standard income or minor credit blemishes. The reforms would give lenders greater flexibility to assess affordability on a case-by-case basis rather than applying blanket exclusions, and would update guidance around retirement interest-only products and foreign-currency earners.
For retail forex and CFD traders, the proposals carry a specific relevance: individuals paid in foreign currency or with variable, trading-derived income have long faced friction in UK mortgage applications. If adopted, these changes could ease that barrier by encouraging lenders to consider a borrower's full current financial picture. The FCA framed the reforms as keeping pace with how people now work and earn, building on the Consumer Duty framework introduced in recent years. A consultation is open for industry feedback. The full announcement is available from the FCA's press office (fca.org.uk).