L&G compiles lenders’ MCD plans

Ryan Bembridge

January 6, 2016

Legal & General has updated its Mortgage Credit Directive Matrix to provide information on lenders’ plans.

The MCD, which is being implemented on March 21 2016, will give lenders a number of options such as adopting KFI+ or ESIS documentation.

Currently there are 33 lenders on L&G’s matrix including NatWest, Lloyds Banking Group , Kensington, Kent Reliance, Progressive and Coutts Metro Bank.

Jeremy Duncombe, director of Legal & General Mortgage Club, said: “Our Mortgage Credit Directive Matrix which has been running since August 2015 has acted as a crucial point of information for brokers providing them with everything they need to know about the MCD. With the MCD coming in to effect this year the hub provides advisers with a one stop shop of information and knowledge.

“This latest update now covers more lenders than ever before, which will ensure advisers are completely up to date with all the changes. It is vital that the hub is utilised and made the most out of so that everyone is aware of the new regulation.”

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