June 15 – The proposal for seconds
One of the biggest decisions all mortgage firms will have to make to implement the provisions of the Mortgage Credit Directive is whether to include second charge loans in their scope of service. For many years, the vast majority of firms have been used to telling consumers that they cannot cover lender direct deals, further advances or certain exclusive products. This does not change from next March, but firms will have to decide whether to add seconds to this list or to include it in their advice.
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