GREAT NEWS- Second charge Mortgages are now just like First charge Mortgages !

It's been another fantastic month for second charges at Beech Finance in February and March looks to be even better!

March 21st 2016 is a landmark day for our industry that finally sees the introduction of the Mortgage Credit Directive and it's when First and Second charge Mortgages will finally be considered as equals and regulated by the FCA.

First and Second charge Mortgages now have the same processes which includes:

 - Mortgage lenders will produce a Mortgage Illustration (ESIS) just like a first charge on day one

- Consideration period has been replaced with a seven day reflection period upon the lender producing a Binding Offer- Just like a First charge Mortgage

- Stress Testing Introduced to Second charges - Just like a First charge Mortgage

- Upfront fees can now be charge - Just like a First charge Mortgage

Remember to remain an Independent Mortgage Adviser or offer the whole of the market you must consider Second charges under the new MCD rules .

To discuss the Mortgage Credit Directive in more detail then and the fantastic opportunity to work alongside one of Britains best Secured Loan packagers please call Beech Introducers on 01625 651521