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Consumer Finance


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Second Charge Lending: Transfer to the MCOB Regime – Workshop

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09.00 Registration and Coffee

10.30 Chairman’s Introduction

Fiona Hoyle, Head of Consumer Finance,
Finance & Leasing Association

10.40 Second Charge Mortgage Lending – Regulation by the FCA

• Why transfer second charge lending under the MCOB regime?
• The Mortgage Credit Directive – how it applies to lenders and brokers
• New rules for second charge lending and broking – an overview
• Mortgage Credit Directive Order
• Timetable for implementation

Nick Wood, Mortgage Policy,
Financial Conduct Authority

Second Charge Lending Authorisation Process

• Preparing for authorisation – what the FCA will expect to see
• Timetable for completing the process

Beverley Brewster, Technical Specialist, Authorisation Division
Financial Conduct Authority

11.40 Coffee Break

12.00 The Second Charge Lending Process – How it will change for lenders and brokers

• How the second charge lending process will change. Will it be the same as first charge lending?
• Pipeline cases
• Disclosure – ESIS – who will produce it? Lender or broker?
• Assessing affordability
• Stress testing
• Binding offers
• Fees and Valuations
• Where need firms to focus

Geraint Thomas, Partner
Eversheds

12.40 Consumer Buy-to-Let and Management of the CCA back book

Consumer Buy to Let Registration and implementation requirements for CBTL firms including:

• Classification of CBTL agreements
• Pre and post sale requirements. Consumer credit back book mortgages
• Changes to previously unregulated mortgages
• Do any secured loans and mortgages remain in the CCA regime?
• Managing consumer credit back book mortgage contracts
• How variations to the existing mortgage book should be managed
• Which CCA provisions will continue to apply?
• What will the impact be?

Rosanna Bryant, Partner
Addleshaw Goddard

13.15 Lunch

14.00 How the FCA will regulate mortgage firms

• Key features of FCA regulation in the mortgage market
• Where the FCA will concentrate its attention in the mortgage lender and broker markets
• Enforcement action and thematic reviews
• How firms will need to adapt

Simon Collins, Managing Director, Regulatory
Eversheds Consulting

14.30 What brokers need to do to be ready for the new regime

• Authorisation Applications – key features of a successful application
• Compliance with the wider FCA regime – Threshold conditions/reporting etc
• How lenders will manage broker panels in the future. Responsibility of Master brokers and sub-brokers
• Training, competence & CeMap

Amanda Hulme, Partner,
Addleshaw Goddard

15.30 How the role of the broker will change

Robert Sinclair, Chief Executive
Association of Finance Brokers

15.50 Workshop Closes