NEW
Font size
WorksheetsAdvice Workshop
Total questions: 10
Worksheet time: 5mins
What is the correct abbreviation of MMR?
Mortgage Market Review 2014
Mortgage Market Regulation 2014
Mortgage Market Review 2013
Mortgage Market Regulation 2013
What Level of Service must be offered to clients?
Execution only
Advice
Informed choice
All of the above
What is the stance when adding fees to the mortgage, if the client has the money to pay them?
You can advise the client to add the product fee
Your Broker fee can be added
It must be a positive election by the client
No fees can be added
What is stress testing?
Lender affordability calculation at a higher interest rate
No need to mention to clients as it is an internal process
Lender affordability calculation at 3% above current rate
A measure of blood pressure when buying your house
What is the abbreviation MCD and when did it come into force?
Mortgage Consumer Discussion 2016
Mortgage Credit Directive 2017
Mortgage Consumer Discussion 2015
Mortgage Credit Directive 2016
What areas has MCD had an impact on?
Illustrations
Second Charge
Consumer BTL
All of the above
What is the abbreviation APRC?
Annual Percentage Rate Charge
Annual Price Rise Charge
Actual Percentage Rate Charge
Actual Price Rise Charge
Describe a Consumer BTL?
A person buying a house to improve and sell on
A limited company buying a house to rent on
A person inherits a property then rents it out
A landlord buying a further property to add to his portfolio of 5
When would you pay the higher rate of SDLT?
For all rental properties
Second properties over the value of 40K
Moving house prior to selling your existing property
All of the above
How would you describe MAB mortgage proposition?
Panel of lenders
Independent Mortgage Brokers
Access to the Whole of Market
Representative of the Whole of Market
