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<p>The UK already has a robust regulatory regime to protect consumers in the UK mortgage
market.</p><p> </p><p> </p><p> </p><p>As such, the Government’s approach to the implementation
of the Mortgage Credit Directive, has been to minimise the impact on the UK market
by building on the existing UK regulatory framework.</p><p> </p><p> </p><p> </p><p>Under
this framework, the independent regulator, the Financial Conduct Authority (FCA) is
responsible for the rules that mortgage providers must comply with, including what
type of information they must provide to consumers. The FCA is therefore responsible
for considering how to ensure that mortgage lenders are using the European Standardised
Information Sheet (ESIS) or an equivalent by 21 March 2016, and the impact that this
could have on UK consumers.</p><p> </p><p> </p><p> </p><p>The FCA have published details
on the changes they will make to their mortgage rules, including what the impact of
the ESIS may be, and these are publicly available on their website.</p><p> </p>
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