There has been published on the legislation.gov.uk website the Mortgage Credit Order 2015 (the Order) together with an explanatory memorandum.
The Order makes a number of changes to UK legislation. Principally, these changes provide the FCA with the appropriate powers to design, supervise and enforce rules as required to achieve compliance with the Mortgage Credit Directive. In addition, the Order introduces a new legislative framework for the regulation of buy-to-let lending to consumers, and provides the FCA with the appropriate powers to supervise and enforce this framework.
Unless otherwise stated, the Order will come into force on 21 March 2016.
View The Mortgage Credit Directive Order 2015, 26 March 2015