The Matrix explains the new regulation coming into force on March 21st, and includes details of when lenders plan on adopting the MCD rules.
Jeremy Duncombe, Director, Legal & General Mortgage Club said:
“Communication and transparency whilst phasing into the Mortgage Credit Directive is crucial if the rules are to be adopted smoothly across the industry. The impact that the MCD will have depends in part on how well prepared brokers are for the new rules.
"There are several changes to the advice process that are listed on our MCD Matrix, and only those brokers who have familiarised themselves and worked these changes into their business’ processes can consider themselves fully prepared for the new rules. Our latest update adds to our Matrix of data on lenders of all sizes which will help advisers prepare for the approaching change in regulation.”
