Content Options

View Options

Status: You are viewing the version of the handbook as on 2009-03-31.

MCOB 10.2 Purpose

MCOB 10.2.1GRP

The purpose of this chapter is to establish the requirements for the proper calculation of the APR. As a cost measure which facilitates comparisons between similar mortgages offered on a similar basis, the APR is an integral element of the rules relating to qualifying credit promotions and disclosure.