FEB 2015 – Stand and deliver – the money or?
Having seen 2014 deliver £205bn of gross lending, what is going to happen in 2015 to drive volumes higher? Whilst the CML and other significant industry commentators are predicting another 10% growth to £225bn, the early indicators are that we have not seen any further increase in activity yet. Of particular concern is that estate […]
FEB 2015 – Longer term fixes
There are currently some phenomenal longer term fixed rates on offer, but something seems to prevent UK consumers from opting for these attractive options. In a world where advice is now the norm, understanding consumer needs and their attitude to risk is key. So in making recommendations any adviser has to be mindful of committing […]
JAN 2015 – Two birds in less than two years
Less than a year after we implemented the most significant regulatory changes to the market under the Financial Conduct Authority’s Mortgage Market Review (MMR), we are now looking at the changes required by the Brussels version of the review into the mortgage market, which the UK must implement by 21 March 2016. The UK Treasury […]
JAN 2015 – Affordability
Many lenders used to be happy to lend on self-certification of income where the applicant had a good credit score and no adverse credit history. Others used simple income multiples to agree the amount they were prepared to lend. The great recession and the MMR meant that lenders had to take a new view on […]
JAN 2015 – Treasury muffles the European drum
Treasury has now laid the required draft statutory instrument before Parliament to implement the European Mortgage Credit Directive. In doing so they have recognised that last years’ MMR made most of the changes required to deliver an effective UK mortgage market. The government wants to minimise the impact on the UK market as far as […]
JAN 2015 – The New Year view
As we arrive in the New Year, there are many reasons for brokers to be cheerful. 2015 will be a year of stability without great regulatory change, before we introduce the European Directive in 2016. Whilst there will be much to debate it should not impact on the ability to do business. All commentators are […]
FCA’s implementation of the EU Mortgage Credit Directive
Following HM Treasury’s publication of its consultation on the EU Mortgage Credit Directive (MCD), the FCA has now published its consultation.
HM Treasury consults on the implementation of the EU mortgage credit directive
HM Treasury has published its consultation on the implementation of the EU mortgage credit directive (MCD). The aim of the consultation is to ensure that the UK meets its obligation to transpose the MCD by 21 March 2016.
FCA’s guidance consultation on using social media for financial promotions
FCA has issued a guidance consultation on its supervisory approach when firms use social media for financial promotions.
AMI and IMLA publish joint guidance on lender panel removals
The Association of Mortgage Intermediaries (AMI) and The Intermediary Mortgage Lenders Association (IMLA) and have published a joint framework for the governance of lender and intermediary relationships under the new mortgage rules that are now in place following the final implementation of the Mortgage Market Review (MMR) on 26 April.
