The Mortgage Credit Directive (MCD) is a body of European legislation for the regulation of first- and second chargemortgages and consumer buy-to-let (CBTL) lending. It was originally adopted by the European Commission on 4 February 2014 and Member states had to transpose the regulations in their national law by March 2016.
The Directive introduces a European framework of conduct standards for firms selling residential mortgages.
The objective of the Directive is to create a Union-wide mortgage credit market, with a high level of consumer protection.
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