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Aldermore publishes Mortgage Credit Directive approach ahead of 2016 deadline

POSTED: 21st December 2015
IN: Newsroom
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Aldermore has today published a new leaflet outlining its preparations ahead of the implementation of the European Mortgage Credit Directive (MCD) on the 21st March 2016.

The leaflet aims to keep brokers and customers fully up to date of any changes which could affect them and includes full details on Aldermore’s approach to the new conduct rules.

Aldermore will offer consumer buy-to-let to all customers who meet their lending requirements and will be adopting the KFI+ (Key Facts Illustration), transferring to the ESIS (European Standardised Information Sheet) in time for the regulatory deadline in March 2019, and a seven day reflection period, which commences from the date of mortgage offer, will also be implemented.

Aldermore will fully implement MCD in March 2016 ahead of the regulatory deadline and will provide further updates to their intermediary partners in early 2016.

The leaflet can be found here.

Charles Haresnape, Aldermore’s Group Managing Director, Mortgages, said:

“With any new piece of regulation, it is vital that lenders and brokers make sure that customers are kept up to date with any developments and how changes may affect them.

“Whilst any new regulation can be a bit unsettling, the positive communication between lenders, intermediaries and customers should really help.”

**Ends**

For further enquiries, journalists can contact:

Johnathan Priestley, Cicero Group
Phone:          0207 297 5954
Email:           Johnathan.Priestley@cicero-group.com 

Rachael Snelling, Aldermore
Phone:          0208 1853 102
Email:           Rachael.Snelling@aldermore.co.uk

Notes to editors:
For further information about Aldermore, our financial backers and our PR contacts, please review our Notes to Editors page.

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