COMP 5.6 1Protected mortgage business

Protected mortgage business is:

1. (1)

   advising on regulated mortgage contracts; or

2. (2)

   arranging (bringing about) regulated mortgage contracts; or

3. (3)

   making arrangements with a view to regulated mortgage contracts; or

4. (4)

   agreeing to carry on a regulated activity in (1) to (3); or

5. (5)

   the activities of a mortgage lender which would be arranging but for article 28A of the Regulated Activities Order (Arranging contracts to which the arranger is a party);

provided that the condition in COMP 5.6.2 R is satisfied.

COMP 5.6.1 R applies only if the protected mortgage business was carried on by a relevant person:

1. (1)

   with a customer who was a resident in the United Kingdom; or

2. (2)

   from an establishment maintained by the relevant person (or its appointed representative) in the United Kingdom with a customer who was resident elsewhere in the EEA;

at the time the protected mortgage business was carried on.