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.