Legal and General updates MCD matrix
The matrix now gives clarity on the plans of the majority of the top lenders including: Accord, Bank of Ireland/Post Office, Halifax, Kensington, Leeds, Metro Bank, Nationwide, Santander, Skipton, TSB, and Virgin Money.
Jeremy Duncombe, director at Legal & General Mortgage Club, said: “Communication and transparency whilst phasing in the Mortgage Credit Directive is crucial if the rules are to be adopted smoothly across the industry.
“I’m pleased that we’ve been able to provide a solution to this, in the form of our Mortgage Credit Directive matrix which provides brokers with everything they need to know about the MCD.
“Our latest update covers a wide range of lenders, both large and small, which will help advisers to keep up to date with the changes. The onus is now on the individual to ensure that they make use of the resources available to stay on top of the new rules.”