MMC

What is the basis for the SVR/MMC argument?

Which documents are required to run an MMC case?

If a lender’s interest was contractually set at the Bank of England's base rate (BOE) plus a product margin of 2.5%, what would you write in the interest column of the MMC details sheet?

If Northern Rock’s interest was contractually set at their own SVR (NRAM), what would you write in the interest column of the MMC details sheet? At the time the contract was written, the NRAM SVR was 6.2% and the BOE base rate was 4%.

Which two legal cases are integral to the MMC argument?

If a mortgage was taken out on 12 December 2004 and redeemed on 12 July 2009, can we accept this case?

If a mortgage was taken out on 5 May 2006 and redeemed on 4 July 2011, can we accept this case?

In the data entry process, which transaction type would you assign to a monthly direct debit paid by the debtor?

While scrolling through an MMC case DSAR you find a mortgage advance labelled "repayment" and another advance labelled "interest only". What is this an example of?

Halifax has offered a buyer a fixed interest rate of 4.99% for the first year of their contract, followed by their own SVR with a discount of -0.25% for a year, followed by their own SVR for the remainder of the contract term. At the time of the contract, the BoE rate was 4% and the Halifax SVR was 7.75%. What would you write in the interest column of the MMC details sheet?