The FCA has published a Policy Statement (PS16/7) on the future regulatory treatment of pre-31st October 2004 CCA regulated 1st charge mortgages. In summary, such mortgages will become regulated mortgage contracts on 21st March 2017 (unless the firm ‘opts-in’ early) and MCOB will govern their administration from that date. There will be new safeguards for arrears and an enhanced form of annual statement. The Policy Statement is available here.