Newcastle Building Society Intermediary Services (NBSIS) said it has taken the necessary steps to ensure it is compliant with all the relevant new requirements, which come into effect on 26 April.
It said it anticipates it will be a smooth transition for its intermediary partners with its lending policy fully aligned with MMR.
The lender already has a compliant affordability calculator, which brokers can use to make affordability assessments even easier.
It also confirmed that from 14 April 2014 it will no longer accept non-advised cases. Any such cases submitted to NBSIS prior to this date must be complete by 25 July 2014 or they must be submitted again on an advised basis.
Steven Marks, corporate services executive, said: “We have worked for a long time now to ensure we are ready for any changes. This preparatory work has paid off as it now means we have systems and procedures that were already compliant well in advance.
“The developments have resulted in positive changes, which we believe will benefit our brokers and will make the implementation of MMR a smooth transition for them.”
The society also confirmed that as there are no changes to its policies or systems, Decisions In Principle will be dealt with in the same way.
Key dates for the society include Friday 11 April, which is the last day the mutual will receive any non-advised applications. The lender will only accept advised applications from Monday 14 April and from 25 July, any non-advised applications must have completed or be resubmitted on an advised basis..
