A spokesperson for the lender said it would begin implementing a phased approach from November to allow full- compliance with the March 2016 deadline. The lender would not confirm any further details of what the first stage of implementation would involve but Tony Fullbrook, policy and regulatory manager at Barclays, is speaking at the Mortgage Business Expo in October on the directive from a lender’s perspective.
Writing in her Marketwatch comment for Mortgage Solutions, Toni Smith, sales operations director for First Complete, said she thinks it is likely we will see a number of lenders launching with their MCD propositions from January next year to test their systems and iron out any glitches.
First Complete has launched a series of training events for its members to make sure they are aware of the changes and timescales which will be brought about by the directive. Openwork will be addressing the MCD during its autumn roadshow.
