TenetLime has revealed that its current schedule of Mortgage Credit Directive (MCD) events in February is almost completely booked out.
Capacity has had to be increased for several of the five events throughout February, to fulfil the demand from brokers.
The agenda seeks to clearly outline the changes firms will need to make to their business to comply with the new regulation and give advisers the opportunity to hear about the impact and implications of the directive from both first and second charge lenders, as well as master brokers.
TenetLime is maintaining the option for firms to retain their independent status under the MCD, which requires that they include advising on second charge lending within their offering. It has found that this is a popular decision, as informal feedback from the events to date indicates that roughly 50% of delegates intend to continue to describe their service as independent post-MCD.
Gemma Harle, TenetLime’s managing director, said: “Capacity booking figures for these events indicate a real need for a comprehensive overview of the changes under the MCD and what they mean for adviser firms. We’re also providing documentation and support for all members with mortgage permissions to help them understand how the directive will impact on their model, the choices available and what our action will be in the relevant areas.
“Importantly, TenetLime is supporting firms who choose to retain their independent status, rather than being prescriptive.”
