A majority of consumers are familiar with the Mortgage Market Review (MMR) and its impact on mortgage applications a poll on this website has found.
When posed the question: ‘Are you familiar with the Mortgage Market Review and it’s impact on borrowers?’, 55 per cent of participants responded that they were. A further 26 per cent said they had heard of MMR but were not familiar with it in detail, while 19 per cent were completed unfamiliar with the new mortgage lending regulations.
The Mortgage Market Review (MMR) came into effect on April 26th and was introduced by the Financial Conduct Authority to ensure that lenders are only offering home loans to borrowers who can prove they afford to pay them back.
