The FCA has published a new webpage setting out frequently asked questions (FAQs) relating to the Mortgage Credit Directive (MCD).

Amongst others, the FAQs include answers to the following questions:

  • how will firms complete the application process?;
  • what is the application process for second charge lenders with interim permission?;
  • how are house builders affected by the MCD?;
  • how are a firm’s regulatory fees affected by these applications? Are there any fee concessions and, if so, how will they apply?;
  • will there be any impact on the approved persons requirements?; and
  • what is the difference between consumer buy-to-let and buy-to-let carried out by way of business?

View Mortgage Credit Directive – Frequently Asked Questions, 15 April 2015