The Mortgage Credit Directive (MCD) came into effect on the 21st March 2016. Lenders are required to make substantial systems and process changes across a wide number of areas to comply with the MCD requirements. The sales process has changed, as have the disclosure documents which lenders are obliged to give to consumers.
The MCD also makes specific requirements for buy-to-let (BTL) mortgages. Member states must introduce either the MCD requirements or an “appropriate national framework”. The UK government has chosen the latter course of action.
Subsequently all documents contained within this section meet those requirements. Within this section you will find documents to assist you with advising and arranging Lifetime Mortgages, Home Reversion Plans and Home Purchase Plans.