The FCA and PRA have issued a joint consultation paper that sets out proposals for updating the PRA’s notes to the Mortgage Lenders & Administrators Return (MLAR), the notes for completion of the MLAR in the FCA’s Supervision manual (SUP) and the MLA-D1 form for reporting second charge lending (also in SUP). The proposals in the consultation paper are, among other things, intended to reflect the changes following the transposition of the Mortgage Credit Directive in the UK in March 2016. The proposals also make minor changes to other sections of the notes to the MLAR.
The consultation paper is relevant to all firms that submit the MLAR, i.e. all firms carrying on the regulated activities of home finance providing activity and administrating a home finance transaction.
The deadline for comments on the consultation is 13 March 2017.
View Consultation Paper PRA CP45/16 FCA CP16/41: Amendments to Notes for completion of the MLAR, 12 December 2016