Goods Mortgages Bill: HM Treasury’s response to consultation

Industry News | 15/05/18

HM Treasury (HMT) has published its findings after considering the responses it received to its consultation of 22 September 2017 on the proposal to reform the Bills of Sale Acts. HMT has announced that, given the concerns that were raised in the consultation, the small and reducing market and wider work on high-cost credit, the government is not intending to introduce new legislation at this point in time. HMT said it will continue to work with the Financial Conduct Authority (FCA) as the FCA carries out its high-cost credit review, and that it will then consider further government action on alternatives to high-cost credit in light of the FCA’s findings.