FCA launches MMR webcast

The webcast covers the FCA’s main communications about the MMR for mortgage intermediaries to date and the communications to follow as well as an overview of where intermediary firms should be in their preparations at this stage.

It also includes a summary of the responsible lending requirements under MMR as they affect lenders, how initial disclosure should take place with examples and the key points about execution-only.

The FCA also explains what it expects when providing an advised sales process, including the nine factors to consider when assessing appropriateness and an advised sales scenario to apply them.

Linda Woodall, director of mortgages and consumer lending, said: “Late last year we toured the country meeting firms and helping them prepare for, and better understand, the new rules that come into force with the MMR in April.

“Now, for those who were unable to make any of the seminars, we have created a webcast that includes many of the materials we presented.

“The webcast is free to access so that firms can hear directly from us and we can help ensure consistent understanding across the industry.”