June 15 – What should an ERC be?

BY IN Article On 18th June 2015

When AMI first reviewed the European Mortgage Directive text, we felt that the sense of the text meant significant change for UK lenders. We were surprised when the FCA indicated that they were not intending to change their rules.

AMI spends significant time looking at the rules that directly impact brokers, and less on the sections that are lender specific – such as the framing of an ERC. When we looked at the rules –

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