We have launched an MMR checklist to ensure that mortgage advisers are aware of and prepared for the changes that the new regulation will bring in. With the MMR fast approaching, we wanted to provide advisers with a tool to check that the transition in the market goes smoothly.
The main change under the MMR is that the majority of mortgage sales will need to be advised. Advisers will be given the responsibility of providing supporting documentation to demonstrate that client profiles are eligible for a mortgage application. This means that lenders will heavily rely on advisers to carry out these administrative processes.
Our checklist is split into 7 sections with action points in each. It highlights the key areas that firms should be looking at in the run up to the MMR, as well as the questions to ask to avoid running into trouble further down the line.
We believe that this is a hugely useful resource for any mortgage adviser that is currently preparing for the new regulations and will help during the inevitable period of adjustment post-MMR. While the vast majority of advisers are aware of the MMR and its requirements, this checklist will provide clear guidance to making sure adviser firms are compliant, and allow them to get to grips with the practical implications MMR will bring.
Make sure you’re prepared for the 26th April and download the checklist for free by clicking the image below.