Bob's Blog

Now is not the time for procrastination

10 Jul 2013

With just 10 months to go before the Mortgage Market Review is implemented, preparations should be well underway for all those impacted but the question is – are they?

We recently held a forum with a number of key industry figures in conjunction with Mortgage Strategy which proved a useful exercise that reminded all involved of their responsibilities and provided an open forum for the discussion of how it will shape the market in future.

We are keenly aware of our duties around MMR and the roundtable discussion was part of our strategy to ensure we are all ready for its introduction. Another key part of our build up to next April is the publication of a number of regular briefing notes to keep intermediaries up to date with developments as they prepare for the new regime. Although the notes were chiefly prepared with our members in mind, we are keen for them to be available to anyone wanting to gen up on MMR in order to understand the practical measures that are required of firms and so they are freely available on our website.

We are enthused by the opportunities presented by the exciting new era the mortgage market is about to enter and as well as getting our own shop in order, we are keen to help raise professional competence across the board through initiatives such as these MMR updates.

Preparation is the key to success and my advice to all intermediaries is to embrace the changes head on and not to put off to tomorrow what you could do today.

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