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Key vote of European mortgage directive delayed again

A key voting stage for the European mortgage directive due to take place this week has been postponed yet again until May 8.

The powerful Economic and Monetary Affairs committee in the European parliament was set to vote either today or tomorrow.

However, further amendments posed in negotiations have caused it to be put back by a fortnight and pushed the total number of changes to the original draft towards a whopping 900.

The vote was initially set to take place before Christmas but was pushed back to February 28 and then April 25 as ECON members struggled to agree.

The other parliamentary grouping scrutinising the proposals, the Internal Market and Consumer Affairs committee, passed its draft proposal in December last year.

The directive proposals cover a wide range of issues including advice, buy-to-let and the future of the Key Facts Illustration.

The ECON rapporteur Spanish MEP Antolin Sanchez-Presedo has previously been accused of exceeding his remit and is struggling to find agreement.


Slough broker and accomplice jailed

Mortgage broker Tahir Malik and his accomplice Patrick Kamande have been jailed for a total of 12 and a half years after being found guilty of multiple mortgage frauds. Broker Malik was sentenced to six and a half years and Kamande six years at Reading Crown Court on April 13. Kamande’s wife Mary Kimani also […]

A question of service

Roy Armitage, head of credit, LendInvest Selling a loan is the part of a lender’s workload most visible to brokers and borrowers. Just as crucial – but less frequently observed – is how that lender services that loan. A commitment to quality servicing is one that’s front and centre for us at LendInvest and it’s […]


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