Advice Workshop

What is the correct abbreviation of MMR?

• Mortgage Market Review 2014

• Mortgage Market Regulation 2014

• Mortgage Market Review 2013

• Mortgage Market Regulation 2013

What Level of Service must be offered to clients?

• Execution only

• Advice

• Informed choice

• All of the above

What is the stance when adding fees to the mortgage, if the client has the money to pay them?

• You can advise the client to add the product fee

• Your Broker fee can be added

• It must be a positive election by the client

• No fees can be added

What is stress testing?

• Lender affordability calculation at a higher interest rate

• No need to mention to clients as it is an internal process

• Lender affordability calculation at 3% above current rate

• A measure of blood pressure when buying your house

What is the abbreviation MCD and when did it come into force?

• Mortgage Consumer Discussion 2016

• Mortgage Credit Directive 2017

• Mortgage Consumer Discussion 2015

• Mortgage Credit Directive 2016

What areas has MCD had an impact on?

• Illustrations

• Second Charge

• Consumer BTL

• All of the above

What is the abbreviation APRC?

• Annual Percentage Rate Charge

• Annual Price Rise Charge

• Actual Percentage Rate Charge

• Actual Price Rise Charge

Describe a Consumer BTL?

• A person buying a house to improve and sell on

• A limited company buying a house to rent on

• A person inherits a property then rents it out

• A landlord buying a further property to add to his portfolio of 5

When would you pay the higher rate of SDLT?

• For all rental properties

• Second properties over the value of 40K

• Moving house prior to selling your existing property

• All of the above

How would you describe MAB mortgage proposition?

• Panel of lenders

• Independent Mortgage Brokers

• Access to the Whole of Market

• Representative of the Whole of Market