The FCA has published a webpage setting out answers to frequently asked questions in respect of the Mortgage Credit Directive.

The FAQs cover topics including:

  • the process for second charge mortgage brokers currently in their application period and who will require mortgage permissions under the MCD;
  • how firms will complete the application process;
  • the application process for second charge lenders with interim permission;
  • the impact of the MCD on the approved persons requirements; and
  • how regulatory fees are impacted by the applications process.

The webpage can be found here.