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UK bank mortgage market being monitored ‘very closely’ by financial conduct watchdog

By Fiona Maxwell ( October 12, 2022, 14:06 GMT | Insight) -- The UK's financial conduct watchdog is monitoring the mortgage market in the wake of thousands of products being withdrawn, its chief executive said today. Nikhil Rathi called for lessons to be learned from the market turmoil experienced in recent weeks following the UK government's "mini-budget," which sent government borrowing costs soaring.Market changes that led to hikes in UK bank mortgage prices were “outside of any historical precedent” in recent weeks, and the situation is being closely monitored, Nikhil Rathi, chief executive of the Financial Conduct Authority, said today....

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