Implementation of the EU Mortgage Credit Directive
Seeking views on legislative changes proposed to meet the requirements of the Mortgage Credit Directive.
The directive on credit agreements for consumers relating to residential immovable property, more commonly referred to as the Mortgage Credit Directive (MCD), was published in February 2014 and the UK is required to implement it by 21 March 2016. In order to meet the requirements set out in the MCD, the UK government needs to make changes to the legislation that sets out the framework for UK mortgage regulation.
This consultation invites views on the legislative changes proposed to meet this obligation. It also includes the consultation stage impact assessment for these proposed changes alongside a draft of the legislation.
Read the news story.