ticking Mortgage Time bomb

The Financial Conduct Authority did not have the information requested.

Dear The Financial Conduct Authority,

Having just read an article about the future problems the interest-only mortgage market may encounter I would like to know where the banks get the cash to give to their customers.

I've tried using the bankers' book and evidence act 1879 to get information about my mortgage and where the cash came from but to no avail.
My enquiry is this: Where do the banks get their cash for mortgages and any other loans they deal in???

Yours faithfully,

nebb

The Financial Conduct Authority

Thank you for e-mailing the Financial Conduct Authority's Information Access Team. This is an automatic acknowledgement to tell you we have received your email safely. Please do not reply to this email. We will be in touch in due course.

This communication and any attachments contain information which is confidential and may be subject to legal privilege. It is for intended recipients only. If you are not the intended recipient you must not copy, distribute, publish, rely on or otherwise use it without our consent. Some of our communications may contain confidential information which it could be a criminal offence for you to disclose or use without authority. If you have received this email in error please notify [email address] immediately and delete the email from your computer. Further information on the classification and handling of FCA information can be found on the FCA website (http://www.fca.org.uk/site-info/legal/fc...).

The FCA (or, if this email originates from the Payment Systems Regulator Limited, the FCA on behalf of the Payment Systems Regulator Limited / the Payment Systems Regulator Limited) reserves the right to monitor all email communications for compliance with legal, regulatory and professional standards.

This email is not intended to nor should it be taken to create any legal relations or contractual relationships. This email has originated from the Financial Conduct Authority (FCA), or the Payment Systems Regulator Limited.

The Financial Conduct Authority (FCA) is registered as a limited company in England and Wales No. 1920623. Registered office: 25 The North Colonnade, Canary Wharf, London E14 5HS, United Kingdom

The Payment Systems Regulator Limited is registered as a limited company in England and Wales No. 8970864. Registered office: 25 The North Colonnade, Canary Wharf, London E14 5HS, United Kingdom

Switchboard 020 7066 1000

Web Site http://www.fca.org.uk (FCA); http://www.psr.org.uk (the Payment Systems Regulator Limited)

Customer Contact Centre, The Financial Conduct Authority

Dear Nebb,
 
Thank you for contacting the Financial Conduct Authority (FCA) via email.
 
Your initial inquiry was received by the Freedom of Information (FOI) team
who deemed that this is not a FOI matter and has asked the Consumer
Contact Centre to respond to you.

I understand your query is where do the banks get their cash for mortgages
and any other loans they deal in. I understand your query and believe I
can provide you with the appropriate guidance.

Funds that banks use to provide their products / services

Each bank will have its own business model on how they fund products such
as mortgages and loans. There are no specific rules or legislation which
states how they can provide these products. You would need to direct your
query to the individual banks about their business models.

I appreciate this may not be the response you were hoping for, however I
hope this has clarified the role and position of the FCA.

Yours sincerely,
 
Miss K Osbourn
Associate | Customer Contact Centre
Financial Conduct Authority | [1]www.fca.org.uk
Consumer Helpline: 0800 111 6768

ref:_00Db0K8yP._5000X1OQ8K4:ref
This communication and any attachments contain information which is
confidential and may be subject to legal privilege. It is for intended
recipients only. If you are not the intended recipient you must not copy,
distribute, publish, rely on or otherwise use it without our consent. Some
of our communications may contain confidential information which it could
be a criminal offence for you to disclose or use without authority. If you
have received this email in error please notify [email address]
immediately and delete the email from your computer. Further information
on the classification and handling of FCA information can be found on the
FCA website
(http://www.fca.org.uk/site-info/legal/fc...).

The FCA (or, if this email originates from the Payment Systems Regulator
Limited, the FCA on behalf of the Payment Systems Regulator Limited / the
Payment Systems Regulator Limited) reserves the right to monitor all email
communications for compliance with legal, regulatory and professional
standards.

This email is not intended to nor should it be taken to create any legal
relations or contractual relationships. This email has originated from the
Financial Conduct Authority (FCA), or the Payment Systems Regulator
Limited.

The Financial Conduct Authority (FCA) is registered as a limited company
in England and Wales No. 1920623. Registered office: 25 The North
Colonnade, Canary Wharf, London E14 5HS, United Kingdom

The Payment Systems Regulator Limited is registered as a limited company
in England and Wales No. 8970864. Registered office: 25 The North
Colonnade, Canary Wharf, London E14 5HS, United Kingdom

Switchboard 020 7066 1000

Web Site http://www.fca.org.uk (FCA); http://www.psr.org.uk (the Payment
Systems Regulator Limited)

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