This document is archived and no longer maintained. Please note that the contents of this Practice Note reflect the amendments that were made to the Financial Conduct Authority’s (FCA) Mortgage Conduct of Business Rules (MCOB) and other relevant parts of the FCA Handbook as a result of the implementation of the mortgage market review (MMR). This note does not reflect subsequent amendments to FCA requirements affecting mortgage lenders and intermediaries, such as changes made as a result of the implementation of the Mortgage Credit Directive (Directive 2014/17/EU) (MCD). Financial Services has updated content on the MCD which can be found in the following content: Authorisation requirements for CBTL mortgages—flowchart. This note and related notes on aspects of the MMR regime have been retained for reference purposes but state the law as at 26 April 2014. It is no longer maintained.

This Practice Note looks at key changes brought about by the MMR. The MMR was one of the Financial Conduct Authority (FCA)'s key initiatives for achieving one of its statutory objectives of securing an appropriate degree