The FCA has published the following new webpages in relation to the Mortgage Credit Directive (MCD):
- Intermediary service disclosure - This covers the FCA’s new requirements for intermediary service disclosure for mortgage intermediaries.
- Independence and binding offers - This covers information on the FCA’s independence and limitation requirements for firms, the new rules on the issuing of a binding offer to a consumer and the seven day reflection period.
- Second charge mortgages: service and product disclosure - This covers information on the new regulation of second charge mortgages.
- Second charge mortgage back book: retained Consumer Credit Act 1974 (CCA) provisions - This covers information on second charge back book mortgages and certain CCA provisions that will remain applicable for the duration of the mortgage. Article 29 of the MCD Order 2015 has a complete list of these provisions.
- Foreign currency lending - This covers information on the new obligations for firms dealing in foreign currency mortgages, including disclosure obligations around the potential impact of exchange rate fluctuation.