News & Analysis as of

United Kingdom Financial Services Industry Lenders

Akin Gump Strauss Hauer & Feld LLP

After the Supreme Court Judgement – What’s Next for Motor Finance Claims in the UK?

The types of consumer credit arrangements at issue in all of the relevant motor finance cases are “three-cornered” transactions. Motor dealers would offer a car for sale, which a member of the public would then see and wish...more

Proskauer - Regulatory & Compliance

Supreme Court Ruling in Hopcraft v Wrench and Johnson v FirstRand Bank

On 1 August 2025, the Supreme Court handed down its long-awaited judgment in Johnson v FirstRand Bank Ltd, Wrench v FirstRand Bank Ltd and Hopcraft & Anor v Close Brothers Ltd – reported together as [2025] UKSC 33....more

A&O Shearman

Mansion House: Mortgage-related developments

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HM Treasury has announced the launch of a permanent mortgage guarantee scheme, aimed at supporting first-time buyers and home movers across the UK. The scheme enables access to 91–95% loan-to-value mortgages, allowing buyers...more

A&O Shearman

UK regulators publish joint final policy on Loan to Income flow limit in mortgage lending

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The UK Prudential Regulation Authority (PRA) and the UK Financial Conduct Authority (FCA) have published joint final policy statement 11/25, finalising amendments to the PRA Rulebook and FCA Guidance (FG25/4) on the de...more

A&O Shearman

UK FOS publishes annual report and accounts for 2024/25

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The Financial Ombudsman Service (FOS) has published its annual report and accounts for 2024/25, accompanied by a press release. The report highlights a 54% year-on-year increase in complaints, with 305,726 new cases received,...more

Hogan Lovells

Buy-Now Pay-Later regulation: Government confirms final position

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HM Treasury has confirmed its approach to the regulation of Buy-Now Pay-Later (BNPL) lending in its response to the October 2024 consultation. On 19 May 2025, Government also laid draft legislation before Parliament. Given...more

A&O Shearman

FCA consultation on simplifying mortgage lending rules

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The UK Financial Conduct Authority (FCA) has published a consultation paper (CP25/11) on simplifying its rules on mortgage lending and increasing flexibility, with an updated webpage and press release. This is the first set...more

A&O Shearman

UK FCA consults on fees and levies for 2025/26

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The UK Financial Conduct Authority (FCA) has published a consultation paper (CP25/7) on its rates proposals for regulated fees and levies for 2025/26 and proposed amendments to the FEES manual. The annual funding requirement...more

Sullivan & Worcester

Sullivan works with ITFA on Launch of Short Term SWIFT FI Trade Loan Template

Sullivan & Worcester on

London, UK – Geoffrey Wynne, partner and head of Sullivan's Trade & Export Finance Group, worked with an ITFA working group headed by Paul Coles, chair of its Market Practice Committee, to develop a Short Term SWIFT Financial...more

Cadwalader, Wickersham & Taft LLP

Navigating the Grey Area, March 2025 - Navigating the Grey Area: Financial Covenant Amendments and the Doctrine of Purview

The doctrine of purview under English law plays a critical role in determining whether amendments to a secured facility require reaffirmation or re-execution of guarantees and security. However, when it comes to adjustments...more

A&O Shearman

UK Financial Conduct Authority Supports Expedition of Appeals of Motor Finance Decisions

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The U.K. Financial Conduct Authority has published a letter addressed to the Supreme Court regarding the applications for permission to appeal to the SC and requests for expedition in the recent motor finance commission...more

A&O Shearman

UK Financial Conduct Authority Publishes Portfolio Letters Setting Out Key Concerns and Priorities for 2025

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The U.K. Financial Conduct Authority has published a series of portfolio letters it has sent to: (i) lifetime mortgage providers, which includes firms that provide lifetime mortgages, home reversion and later life lending...more

Skadden, Arps, Slate, Meagher & Flom LLP

UK Proposes New Approach To Regulate ‘Buy Now, Pay Later’ Market Amid Rising Consumer Debt Concerns

In the UK, 14 million people used “buy now, pay later” (BNPL) at least once in the six months leading up to January 2023. Frequent users were more than four times as likely as other consumers to have missed a payment on a...more

Hogan Lovells

Buy-Now Pay-Later reform: UK government publishes updated proposals – now over to the FCA

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HM Treasury has published its long-awaited response to the February 2023 consultation on its proposed approach to bringing Buy-Now Pay-Later (BNPL) within the FCA’s regulatory perimeter. The government is clear that “swift...more

Cooley LLP

Court of Appeal Provides Comfort to Lenders on Default Interest Clauses

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In Houssein & Others v. London Credit Ltd & Another[1], the Court of Appeal considered the proper application of the common law rules on penalties to a default interest clause in a loan agreement. Contrary to the conclusion...more

White & Case LLP

High-profile deals in European regulators’ firing lines

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Dealmakers are learning to navigate a stricter regulatory environment as UK and EU authorities take an increasingly interventionist stance Global dealmaking experienced a slowdown in 2023 as the market battled headwinds on...more

White & Case LLP

Investors flock to investment grade debt markets

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Primary investment grade bond issuance surged in Q1 2024 as investors ramped up exposure to high-quality borrowers in a high interest rate environment. In the US, investment grade corporate borrowers secured US$429.7 billion...more

White & Case LLP

Governing law of loan agreements – why does it matter?

White & Case LLP on

Borrowers and lenders alike may be forgiven for running out of steam when, having negotiated ever more complex commercial grids, term sheets and loan agreements, one reaches the final line item – the governing law of the loan...more

Hogan Lovells

UK FCA finalises changes to create stronger framework to support borrowers in financial difficulty

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The FCA has published its final rules and guidance aimed at strengthening protections for borrowers in financial difficulty, incorporating aspects of the Tailored Support Guidance (TSG) introduced during the COVID-19 pandemic...more

White & Case LLP

Late rally softens leveraged loan landing

White & Case LLP on

A strong finish to 2023 helped to boost global leveraged loan issuance at the end of an otherwise rocky year for all key markets. The last 12 months were incredibly challenging for banks, investors and borrowers, as elevated...more

Cadwalader, Wickersham & Taft LLP

High Court Ruled That Lender Suffered No Loss Despite Negligent Valuation of Security

On 27 September 2023, the British High Court ruled that the claimant relying on the defendant’s report suffered no actionable loss, despite the defendant’s admission of negligence. ...more

White & Case LLP

The 3rd Fintech Epoch: Europe’s first-movers drive M&A amid tightened purse strings

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UK & European Financial Services M&A: Sector trends H2 2022 | H1 2023 — Fintech - Whilst many European start-ups have struggled to successfully execute funding rounds at valuation levels of yesteryear, more mature fintechs...more

Cadwalader, Wickersham & Taft LLP

The UK Introduces Repayment Concessions for Residential Mortgages

In June of this year, the UK’s Financial Conduct Authority (“FCA”) introduced rules to allow mortgage lenders to more easily vary contracts in order to allow borrowers to make reduced capital payments or switch to an...more

Cadwalader, Wickersham & Taft LLP

National Security and Investment Act 2021, Part 4 – Impact on the Real Estate Finance Market

In this month’s edition of REF News and Views we are going to wrap up our series on the National Security and Investment Act 2021 (the “NSI Act”) and explore the NSI Act’s impact on the real estate finance (“REF”) market....more

Hogan Lovells

UK Consumer Credit Act 1974: HM Treasury responds to first stage consultation on reform

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HM Treasury has published its response to the first-stage consultation on the strategic approach to reforming the Consumer Credit Act 1974 (CCA), described in the response as ‘an ambitious overhaul’ of the regime. The...more

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