Creditworthiness Assessment Bill (HL Bill 16)




Require certain matters to be taken into account when assessing a borrower’s

Be it enacted by the Queen’s most Excellent Majesty, by and with the advice and
consent of the Lords Spiritual and Temporal, and Commons, in this present
Parliament assembled, and by the authority of the same, as follows:—

1 Assessing the affordability of a borrower’s creditworthiness

(1) The Financial Services and Markets Act 2000 is amended as follows.

(2) In section 64A, after subsection (1), insert—

(1A) The FCA must, in making rules under this section, ensure that firms
5carrying on credit-related regulated activities and connected activities
and those entering into or varying a regulated mortgage contract or
home purchase plan take into account rental payment history and
council tax payment history when assessing a borrower’s

2 10Extent, commencement and short title

(1) This Act extends to England and Wales, Scotland and Northern Ireland.

(2) This Act comes into force on the day on which it is passed.

(3) This Act may be cited as the Creditworthiness Assessment Act 2017.