MCOB 13.7 Business loans

Where the regulated mortgage contract is for a business purpose, a firm may as an alternative to MCOB 13.4.1 R(1) provide the following information in a durable medium instead of the moneymadeclear 2information sheet “Just the facts about problems paying your mortgage”:2

1. (1)

   details of the consequences if the payment shortfall is not cleared;

2. (2)

   a description of the options available to the customer for clearing the payment shortfall; and

3. (3)

   details of sources of fee-free advice for business customers.