The Turner Review said that the Financial Services Authority (FSA) is considering regulating the buy-to-let market as well as second charge mortgages.

The review said the FSA’s paper later this year reviewing mortgage conduct of business rules will look at whether or not extension of its regulatory scope to these sectors is necessary.

The Turner Review said: “The paper will consider whether more effective regulation of the mortgage market, through tighter conduct rules or direct product regulation, would require the extension of the FSA’s remit to cover second charge mortgages and buy-to-let mortgages.”