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"may be able to"... "without all".... Lots of nice vagueness there.
Sure, I am not saying the bank can't do what it's doing. I am just saying the MMR is not forcing the bank to reject the request, so we should stop talking about the MMR here. It's a 100% bank decision.
Adopting MMR for remortgages is best practice, after all we don't want to bail out the lenders with tax payers money again.
That's not what the FCA have set out to do with MMR. Not least that it's not the way to tackle the poor lending practices of the early noughties. MMR is very much looking forward.
Lenders are choosing to ignore the October 2012 transitional arrangements for "mortgage prisoners" who are not increasing their LTV or their borrowing and who have a good repayment record.
I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
