The regulator’s proposed consultation on improving mortgage switching has been delayed due to the Coronavirus.

Initially announced on 10 March, the consultation would seek views on making it easier for borrowers to save money by requiring lenders to detail how much they could save by switching to another internal mortgage product.

The consultation paper was originally due for Q2, with new rules published by the end of the year.

The FCA is yet to say when the new deadlines fall.

Many such plans have been delayed due to the impact of the virus, and the FCA has today published a ‘Grid’ outlining where major initiatives fall on the calendar over the next 12 months.

It is the work of the Financial Services Regulatory Initiatives Forum. The watchdog plans to publish the grid twice a year.

FCA interim chief executive and Forum co-chair Christopher Woolard says: “At any time it’s important for regulators to do what they can to help firms plan, but it’s all the more vital in difficult times like these. That’s why we have brought forward the publication of the Grid for the first time.

“Financial services firms need to know what regulatory work is coming down the track, and this Grid will give them the opportunity and time to prepare. It also shows the need for further careful planning by the Forum members for the autumn.’

Prudential Regulation Authority chief executive and Forum co-chair, Sam Woods, adds: “A Grid pulling together the Forum members’ work programmes is a new resource for us and industry, and we would welcome feedback on this first version.

“I hope the Grid will prove to be of real value in the immediate future as we navigate Covid-19, and as it evolves over time.”