An FCA survey suggests a third of the industry cannot confirm it has a plan in place to prepare for Mortgage Market Review implementation on 26 April next year.
However, new regulator the FCA said the broker community was further ahead in its preparations than the lending community. "To a great extent that is understandable," Linda Woodall, director of mortgage and consumer lending at the FCA told Mortgage Solutions. "Lenders have the lions' share of work to do. Their task is more sizeable and ranges from systems changes to training of staff." Woodall added it's not a case of further communications with lenders, but mobilizing to take in the scale of the changes ahead. The FCA said it would be offering further help to non-bank and niche...
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