We collect data from the firms we regulate on what products they are selling. Firms operating in the mortgages, retail investments or protection sectors submit product transaction data to us quarterly.
We use the product sales data (PSD) to assist us in regulation of firms and to spot trends in the products sold in the UK market. We publish the aggregated PSD each year so that consumers and market participants can see what firms are selling and understand the trends.
Our product sales data does not cover all products and markets, so please read the accompanying notes below to understand what it includes. Further information is available under ‘interpreting the data’.
Which firms are included in the data?
Firms report details of their sales of regulated mortgage contracts, retail investment products and certain pure protection products to retail and private customers. Certain firms operating in these sectors are required to submit a product sales return. Firms report transaction-level data on both direct sales by their own sales forces and sales made by intermediaries.
For mortgages sales data, all home finance provider are required to submit their data. In the last year, up to end of June 2017, 193 firms provided mortgage sales data to us.
For pure protection contracts and retail investment products, the following types of firms are required to submit this data to us:
- managers of authorised alternative investment funds (AIF) or undertakings for collective investment in transferable securities (UCITS) schemes;
- operators of an investment trust savings scheme, or a personal pension scheme; or
- a person who issues or manages the relevant assets of the issuer of a structured capital-at-risk product.
In the last year, 30 firms have submitted the pure protection sales data and 267 firms submit retail investment sales data to us.
Which products are included in the data?
Pure Protection Contracts PSD
Pure Protection Contracts sales data is collected for a limited number of product types – that is, products with complexities that increase the potential risks to consumers. These product types are:
- critical illness sold as a ‘rider benefit’ to mortgage protection and term assurance
- income protection and
- standalone critical illness.
Retail Investments PSD
We collect product sales data on 30 retail investment products, in five product categories:
- (stock and shares) ISAs and
- long-term care insurance.
Details of loans for house purchases and remortgages are captured by mortgage sales data, but data relating to further advances are not. Additionally, mortgage PSD only covers regulated mortgage contracts so it excludes products such as second-charge lending, commercial, and buy-to-let mortgages.
We only ask firms to report completed transactions (where the funds have been transferred from lender to borrower). The data each lender submits for mortgage PSD is the same as the data it gives to the Council of Mortgage Lenders (CML) for its Regulated Mortgage Survey. However, the figures published in that survey will differ from mortgage PSD because a small number of mortgage lenders do not submit data to the CML.
Other data you may find interesting
If you would like more information about mortgage sales, the FCA and Bank of England publish other sources of mortgage data, such as those derived from the Mortgage Lending and Administration Return (MLAR) which cover different areas. For example, further mortgage advances are included in the MLAR but not in the PSD. So please bear these factors in mind when comparing mortgage PSD with other related data. View the MLAR data.
For investment products, we also publish further data on retirement income product sales in our Data Bulletin twice a year. View the latest retirement income data.
To find out what we mean by the terms we use in PSD, please see our glossaries of definitions
Interpreting the data
For further information on the product sales data, view Interpreting the data.