On Monday 14 December Skipton Intermediaries is switching to the European Standardised Information Sheet (ESIS) in advance of the European Mortgage Credit Directive (MCD) changes that come into force in March 2016.
It has has opted to launch ESIS on Monday, rather than wait until 2016 and go through the process of implementing the KFI+, before moving on to ESIS.
Skipton says it is committed to implementing all changes smoothly, promptly and professionally and in partnership with brokers.
Paul Darwin, Skipton’s head of intermediary relationships, said: “We feel it’s important that we implement the new MCD rules promptly to ensure that both we and our broker partners can deliver the transition smoothly and professionally for our mortgage customers, we really empathise with our broker partners who will have to deal with yet more changes in the mortgage industry so close to the recent changes under MMR.
“That’s why we’ve opted to issue the ESIS straight away from 14 December 2015, rather than going through the longer process of switching to KFI+ and then ESIS by 2019. Launching early will also ease transitional pipeline challenges around a binding offers and reflection period.”