Precise and Fluent Money complete MCD-compliant loan
Precise Mortgages has paid out on its first MCD compliant second charge loan which was submitted by Fluent Money.
Deprecated: trim(): Passing null to parameter #1 ($string) of type string is deprecated in C:\inetpub\wwwroot\2025.financialreporter.co.uk\htdocs\templates\front-end\partials\article_blockquote.php on line 2
The second charge loan was for £175,000 at a rate of 4.55% per annum, giving an APRC of 5%.
Alan Cleary, Managing Director of Precise Mortgages, said:
“We were ready for MCD in plenty of time, so it is business as usual as far as we are concerned and I am not surprised that Fluent Money were the first to get a loan paid out as they too have been ahead of the game."
Tim Wheeldon, Joint Managing Director at Fluent Money, commented:
“Preparation and cooperation between both ourselves and Precise Mortgages were the key components in ensuring this case completed without a hitch. There has been a lot of hard work on both sides, but MCD should hold no concerns for advisers and their clients when we can demonstrate that lenders and distributors, who are properly prepared, can complete cases just as quickly as before.”
Breaking news
Direct to your inbox:
More
stories
you'll love:
This week's biggest stories:
This week's biggest stories:
Budget
Budget: Government confirms details of 2.5% deposit first-time buyer scheme
State Pension
Budget: Government confirms state pension tax protection
FCA
FCA restricts six lenders over anti-money laundering concerns
FCA
Advice firm employees plead guilty after defrauding clients of £2m
Budget
Budget: Government reduces Lifetime ISA withdrawal charges ahead of new FTB ISA launch
Inflation
Inflation rises to 3.5% as mortgage rates outlook shifts
