Just a quickie based on some early feedback about one particular anxiety.
The new competency requirements in the Mortgage Credit Directive will be met by mortgage sellers as long as they currently meet the existing requirements e.g. CeMAP 1,2 &3 .No new requirements are going to be imposed on mortgage intermediaries under the current proposals.
The new requirements will impact those persons who are involved in the manufacture of mortgages or granting credit. i.e within lenders.
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