The new EU Mortgage Credit Directive (EU MCD) comes into effect on 21 March 2016, and we're committed to working closely with you to give you the information and support you need ahead of these changes.
We're keen to ensure that these changes are seamless for you and your clients, so on our website we've launched a dedicated EU MCD page which details how we'll be implementing the new regulation and our approach to applications in the pipeline.
Here are the key points:
- We'll accept Consumer Buy to Let applications across our standard product range from intermediaries who hold the appropriate FCA registration.
- For applications submitted ahead of our implementation of the EU MCD, you won't need to produce a new Mortgage Illustration (KFI) for your clients.
Help and support
You'll be able to submit any questions you have and we'll continue to update our dedicated EU MCD page between now and our implementation of the changes.