Mortgage News
Exclusive video: Foreign currency loans biggest casualty of MCD – Boulger
Ray Boulger, senior technical manager at John Charcol said brokers will find the biggest loss from the incoming Mortgage Credit Directive will be the reduced sizes of foreign currency loans.
Speaking to Maeve Ward, sales and operations director at Shawbrook Bank, Boulger said: “The biggest problem is the definition of a foreign currency mortgage. We’re talking about some of the best credit risk [clients] in the market being unable to get the size of the loan they want.”
On the sofa with Philip George, MD of secured lending at Shawbrook Bank, Boulger outlines his key concerns for brokers including the importance of understanding when you can call yourself or your firm independent.
Watch the video below.
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