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Crown is MMR-ready

Ryan Fowler

April 1, 2014

Borrowers can be advised on material changes to their mortgage contracts, including alterations to repayment methods, further advances, part or full redemptions and transfers of equity.

Crown will also be able to expand its range of services for clients and their borrowers.

Andrew Doyle, chief executive of Crown Mortgage Management, said: “New regulation coming into place, such as the MMR, runs the risk of increasing the bureaucracy.

“In our case, it wasn’t difficult to embrace as we had many of the processes already in place. We are determined to offer a full range of services to the borrowers of our clients.

“Being MMR-ready and being able to offer assistance directly means borrowers will see a much more streamlined process when it comes to queries on their mortgage.”

Crown has 49 CeMap qualified staff and a further 13 who hold the equity release qualification CeRer.

Jane Manning, head of compliance of Crown Mortgage Management, added: “Dealing with the FCA has been a straightforward process and indicative of their approach to assisting businesses to move into new areas so long as they are prepared, qualified and have the right systems and controls in place.”

The MMR comes into effect from 26 April 2014.


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