Equity Release

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.

Equity Release customers are labelled as vulnerable customers and therefore are not able to opt-out of advice.  As such, this manual outlines the advice and sales process to be followed in the course of carrying out a Lifetime Mortgage, Home Reversion Plan or Home Purchase Plan.  It also provide guidance on how to handle advice that has been rejected by the customer.

You can purchase now or join our member’s club and gain access to all our documents, manuals, policies and templates.

This bundle provides firms with a selection of documents and examples that are used when providing advice to equity release customers.  The example Initial Disclosure Document (IDD) now known as Disclosure Documents (DD) provides two different ways of disclosing a firm’s information to a customer.  Depending on your firm you may wish to choose the second example which puts key information into circles so that they stand out to the customer.  Whichever, you choose is up to you, but we like to offer something different to the norm.  The rest of our documents can be used to provide advice and then follow that up in a letter.

You can purchase now or join our member’s club and gain access to all our documents, manuals, policies and templates.

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