On 27 March 2015 the FCA published final rules in relation to the
implementation of the Mortgage Credit Directive into UK law.
The Mortgage Credit Directive must be implemented by member states, no later than 21 March 2016 and save for a number of transitional provisions, the new rules will take effect from this date. It is, however, possible to comply with the final rules from September 2015.
The aim of the FCA and HM Treasury is to implement the Mortgage Credit Directive by using and supplementing existing FCA rules that apply to first charge lending to retail clients and which are set out in the FCA’s Mortgage Conduct of Business Sourcebook (“MCOB”).
Read More: The implementation of the EU Mortgage Credit Directive - Lexology
The Mortgage Credit Directive must be implemented by member states, no later than 21 March 2016 and save for a number of transitional provisions, the new rules will take effect from this date. It is, however, possible to comply with the final rules from September 2015.
The aim of the FCA and HM Treasury is to implement the Mortgage Credit Directive by using and supplementing existing FCA rules that apply to first charge lending to retail clients and which are set out in the FCA’s Mortgage Conduct of Business Sourcebook (“MCOB”).
Read More: The implementation of the EU Mortgage Credit Directive - Lexology
