In its cost benefit analysis the FSA estimates the benefit from the decrease in arrears and repossessions, measured as a saving in resource costs, would have been around £60m.
It also says transfers from borrowers whose homes were repossessed to other consumers would have been reduced by around £900m over the sample period.
The FSA said: “As these transfers are from the repossessed borrowers to the property purchasers, reducing them is likely to be regarded as socially beneficial.”
