Watchdog sets out mortgage shake-up that could help first-time buyers get on the property ladder

FIRST-TIME buyers could get help to get on the property ladder under new plans revealed by the industry watchdog today.

The Financial Conduct Authority (FCA) said it will start to consult the public on proposed rule changes in four key areas of the market from early 2026.

These areas include first-time buyers & underserved consumers, older borrowers, using data and technology and protecting vulnerable customers.

The FCA aims to have the first rule change in place later next year.

One of the measures being considered is to simplify mortgage rules to allow more flexible mortgages, which would help buyers at different stages of life.

It will also launch a study to consider how the market for lending to older borrowers could develop to meet the different needs of future consumers.

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The study will consider how the FCA can help the market to adapt and innovate, so consumers can access fair value products that meet their needs.

Terms of reference will be published in the first three months of next year.