Are commercial mortgages regulated?
Herein, are commercial mortgages regulated by the FCA?
Unlike the residential mortgage market, Rob Lankey, managing director of commercial mortgages at Aldermore Bank, says most commercial mortgages are not regulated. If 40 per cent or more of the mortgaged business premises is used as the borrower's main residence then again, FCA regulation will apply.”
Also, who regulates commercial lending? Treasury committee calls for regulation of business lending. THE TREASURY committee has called for commercial lending to be brought inside “the regulatory perimeter” to protect small business owners.
Also to know, is Commercial Finance regulated?
Personal lending has been governed by The Consumer Credit Act and secured borrowing fully regulated by The FCA with Mortgage Brokers and Independent Finance Advisers being regulated themselves. Commercial Finance Brokers need to have FCA Authorisation. Commercial borrowing however has always been an unregulated market.
Are let to buy mortgages regulated?
Most BTL mortgage lending is not regulated by the Financial Conduct Authority (FCA). These are often referred to as a consumer buy to let mortgages and are assessed according to the same strict affordability rules as a residential mortgage.