Readers of previous blogs will know that I have welcomed the upcoming review of the MMR rules, with a view to hopefully easing off punitive restrictions on mortgage lending. I was interested to read a report that shows that 74% of brokers and 71% of lenders are concerned about the forthcoming European mortgage credit directive and the impact that it may have on lending activity in the UK for 2016. I understand that many of the MCD changes are of a technical nature, but a lot of brokers are concerned that this will actually be more challenging than MMR. Watch this space!
Lindsay Darroch
Partner – Head of Property
www.blackadders.co.uk
