Nationwide announces MCD plans
Nationwide has set out its approach to the Mortgage Credit Directive (MCD) rules, with plans to implement the requirements ahead of the deadline on 21 March 2016.
Santander begins roll out of MCD rules
Santander has announced changes in preparation for the Mortgage Credit Directive (MCD) start date, while also moving to offer valuation on instruction for all applications set up by 4pm.
Kensington launches 75% interest-only mortgage
Kensington has introduced interest only mortgages up to 75% LTV for customers who earn £75,000 or more and provide evidence of a ‘realistic and plausible’ repayment strategy.
MAB pays shareholders £2.5m as adviser numbers hit 779 – results
Mortgage Advice Bureau (MAB) Holdings confirmed a 4.9p dividend to shareholders in its first payout worth £2.5m in total, fueled by leaping adviser numbers, a resurgent market and the group’s expansion into Northern Ireland.
Voluntary Mortgage Credit Directive rules are rolled out
Firms were able to operate under the Mortgage Credit Directive regime from Monday, supported by a raft of regulatory fact sheets outlining each sector’s responsibilities.
Here’s some more you may have missed…
Clydesdale latest lender to unveil foreign currency plans
Clydesdale Bank has announced it will cease all lending for foreign currency mortgages and non-UK residents, ahead of the Mortgage Credit Directive (MCD) implementation in March 2016.
Lloyds Banking Group to ban foreign currency income on new lending
Lloyds Banking Group will stop lending to borrowers using foreign currency income to support a new mortgage or remortgage application across all its brands, from 28 September.
Sainsbury’s hires HML for mortgage servicing
Sainsbury’s Bank has continued to make progress on its launch into the mortgage lending market by recruiting HML to look after the loan book servicing, Mortgage Solutions understands.
More lenders expected to launch mortgage guarantee replacements
Almost three quarters of mortgage professionals expect a number of lenders to launch higher loan-to-value deals in place of the government’s Help to Buy mortgage guarantee scheme.
Skipton to offer ESIS document by new year
Skipton Intermediaries has announced it will provide brokers with the European Standardised Information Sheet (ESIS) illustrations from the day it becomes compliant with the Mortgage Credit Directive (MCD).
