Mortgage market review (mmr)
Seven out of 10 mortgage brokers (72%) believe the impact of the Mortgage Market Review (MMR) has made lenders too risk averse, a market survey has found.
While the polling in Scotland has captured the public’s attention, IMLA has been paying special attention to a poll of its own.
The Financial Conduct Authority (FCA) has today set out plans to fold second charge mortgages into the FCA's mortgage rules, removing it from the consumer credit regime.
Other Mortgage market review (mmr) articles
Charging clients fees for advice on retail investments became a reality for IFAs in 2012 under the Retail Distribution Review which placed a ban on commission being paid by investment providers.
Equity release allows homeowners to unlock an average of 18 months of pension income, according to the latest study into the market.
Assessing equity release borrowers' affordability under the Mortgage Market Review (MMR) rules if they choose to make a monthly payment is a clear unintended consequence of regulation, said Simon Chalk of Age Partnership.
Intermediaries think that lenders are gradually coping better with the new MMR rules, but they see no clear trend towards potential borrowers coping better.
Borrowers with dependents and those on low incomes have been the most affected by the Mortgage Market Review (MMR) rules, a survey of lenders and brokers has revealed.
House purchase approvals fell by 4.6% in August to 63,485, research by chartered surveyors esurv has revealed.
Gross lending in Q2 increased by 9% against the previous three months to £51.5bn - the highest amount advanced in a second quarter since 2008.
Lloyd Davies of the Conveyancing Association executive committee and managing director at Convey Law looks at the impact the Mortgage Market Review has had since April.
In a Treasury consultation paper out today, a national register for mortgage advisers and Appointed Representatives will be a reality by Spring 2016 in a move by Europe to give the regulator a tighter grip on the industry.
Zurich has increased the maximum term for its critical illness cover from 30 to 40 years, in a bid to protect customers with longer mortgages and to reflect changing retirement patterns.
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