•Mortgage Code principles for consumer protection apply across all products
•MCCB emphasises that an affordability assessment is integral to advice and recommendation provision in the mortgage sales process “The MCCB was asked to appear on the ‘Money Programme’ [entitled “The Great Mortgage Fraud”] broadcast on 11 February 2004 and subsequently provided full support and co-operation to the programme. However, as the industry's independent regulator the Board did not consider it appropriate to appear on a programme which might raise issues about which it may then have to adjudicate.
MCCB is concerned that some of the issues raised and the content of the programme do not accurately reflect industry practices and processes or indeed MCCB’s own experience as regulator. The enclosed Notes explain the position about self-certification mortgages and related issues”.
Luke March – Chief Executive- The Mortgage Code Compliance Board
