At this event we will look at the current market trends and what we should be considering for the future, along with insights from a policy and regulatory point of view. We will also have individual sessions focusing on supporting those in financial difficulty, the green mortgage landscape, and thinking on market and product innovation.

There are two sessions that I am particularly looking forward to:

1. Thomas Francis – Mortgage Policy Manager, Financial Conduct Authority (FCA)

It is always good to get an update on the latest thinking from our regulators, but this session couldn’t be more timely. With the FCA reviewing their conduct rules in light of the Consumer Duty, and currently seeking input from the sector with a Call for Inputs (CFI), I’m looking forward to ensuring the issues of proportionality are front of mind, along with a need to ensure the rulebook and Consumer Duty don’t lead to confusion and overlap.

FCA has indicated that the CFI is to help them to understand whether, where and how they can simplify their requirements, while ensuring they continue to support and protect consumers. Their aim is to support innovation by removing prescriptive requirements and allowing greater flexibility on issues that are reflected in the Consumer Duty.

There is clearly a balance to be had, as a standardised, more detailed approach can provide certainty and consistency for the industry and consumers, which shouldn’t be ignored.

I’m looking forward to probing Tom on the level of ambition the FCA might consider. Is throwing out the rulebook and relying simply on the Consumer Duty an option? Do providers want that level of flexibility, or do they value additional regulatory guidance?

Could a more pragmatic approach be to remove the requirement for a European Standardised Information Sheet (ESIS) and replace it with a Key Facts Illustration (KFI) – allowing lenders to switch in a timeframe that works for their organisation.

I’ll also be putting forward some of our regulatory key asks, most of which regular readers of my column will be familiar with:

• Recognise the value of diversity of business models and tailor regulatory requirements for smaller firms and mutuals, recognising that simpler rules can be just as strong.
• Review of the relative costs and benefits of a stricter regulatory environment versus those of higher rates of home ownership, to increase the availability of 95% loan-to-value mortgages for first-time buyers.
• Review the pre and post-retirement mortgage lending market to reflect the increase in longer mortgage terms and the ageing population.
• Change the mortgage rules (MCOB) to more easily allow part-repayment and part-interest only lending during the course of a mortgage, with the flexibility to shift between them, as a borrower’s needs change.

2. James Alexander MBE – Co-founder, Zopa & Director, Future Agenda

As a strategist, innovator and entrepreneur James will talk about the future of building societies. I have no doubt that he’ll provide us with excellent thought leadership on the strategic priorities a mortgage department should be considering in today’s market to remain relevant and successful tomorrow.

We know the mortgage market is a crowded space, and how the younger generation engage with organisations is different to anything we have seen in the past. It will be good to hear James’s view on these changes and how financial organisations can reach, and nurture, the next generation.

Join the Conversation

Our Annual Mortgage Meet-ups are aimed at lending, credit risk and mortgage customer facing professionals, and have always been engaging and insightful – with lots of opportunity for informal networking and drinks (thanks to our sponsor PEXA).

Paul Broadhead is head of mortgage & housing policy at the Building Society Association