The guide gives brokers an overview of what the MCD means to them, whilst the matrix aims to raise awareness of the MCD regulation, and to help advisers keep track of regulatory announcements ahead of the new rules coming in to force on the 21st March 2016.
Although the final deadline is in March, firms can elect to adopt a majority of the regulation from the 21st September 2015. Legal & General’s MCD Guide and Matrix will include details on when lenders are planning to adopt the new MCD rules, as well as information on what the rules are and which products they apply to.
Jeremy Duncombe, Director, Legal & General Mortgage Club, said:
“Our new MCD Matrix is a one-stop shop for brokers looking for information on how the rules will impact them and when lenders plan to begin enforcing them. The fact that many lenders are likely to begin applying the rules some time before the official deadline means that brokers will need to stay on their toes to keep their practices up-to-date.
"I’m pleased that we’ve been able to provide a practical solution to this, with the Mortgage Club once again leading the way as the place to go for MCD news, as we were with the MMR last year.”
