tm blog

Five years in the making, much has been made in the media recently of the MMR (Mortgage Market Review) and the changes that came into effect on the 26th April 2014. The need for a review was established in the wake of the financial crisis, during which time repossessions were rife and the irresponsibility of previous lending practices brought the credit market to its knees.

In providing innovative online services designed to reduce risk and improve efficiencies in property transactions for all parties, TM Group are well placed to take a look at what the MMR will mean for the property market.

The Bank of England recently announced that the Funding for lending Scheme (FLS), which was set up last year, has been revised so that it will no longer benefit the household lending.