Equity release lender More 2 Life is holding a series of webinars ahead of the implementation of the Mortgage Market Review (MMR).
The lender will be fully MMR compliant from 7 April – more than two weeks ahead of the April 24 deadline and is holding webinars to offer training for brokers outlining the changes.
It is holding three webinars on 3 April with the online sessions starting at 10am, midday and 2pm and plans to launch further broker support tools in the run-up to 24 April.
Applications for More 2 Life loans received by 4 April will be offered by 26 April under current rules subject to underwriting with applications received on or after 7 April considered under new rules including affordability and expenditure evidence.
The webinars will outline the impact of the MMR changes on customers, brokers and more 2 life itself and discuss the need for support during the transition period.
Aaron Conlon, head of operations at More 2 Life, said: “The MMR is very welcome as it mainly supports what is already happening in the equity release market which is why we’ve moved to be fully compliant ahead of the deadline.
“It does however involve changes in how we operate and brokers and customers will need support which we are committed to providing to ensure a smooth transition in order to help maintain market growth.”
