MCOB 13.2 Purpose

Principle 6 requires a firm to pay due regard to the interests of customers and treat them fairly. This chapter amplifies this principle in respect of the information and service provided to customers who have payment difficulties or face a mortgage shortfall debt.

There may be occasions where a customer enters into a regulated mortgage contract with no intention of meeting his payment obligations. Where the intention is to defraud, this chapter does not prevent early action to recover the debt.