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<p>The Treasury recognises that mortgage prisoners can be in a difficult and sometimes
stressful situation. However, the servicer of these mortgages must be regulated by
the Financial Conduct Authority (FCA). This means that customers are protected by
the FCA’s principle of Treating Customers Fairly; their Mortgage Conduct of Business
rules; and customers have recourse to the Financial Ombudsman Service.</p><p> </p><p>The
Treasury has also worked closely with the FCA to consider how to remove the regulatory
barriers that might prevent some customers from accessing better deals.</p><p> </p><p>The
FCA are now consulting on changes that will move the required affordability assessment
from an absolute test to a relative one. This will enable lenders to more easily accept
switching consumers, providing they are up-to-date with repayments and are not borrowing
more.</p><p> </p><p>The FCA consultation closes on 26 June 2019.</p>
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