Providing the customer with copies of product literature, or weblinks to such literature
This would be permitted, if the provision is in response to a request from a customer who has identified the main features of the mortgage they want and is accompanied by an indication that the products described in the literature all have those features (see PERG 4.6.15G(6)).
Listing the current fixed and variable rates on offer
This would be permitted.
Explaining the advantages and disadvantages of fixed rate and variable rate mortgages
This would be permitted if done in purely generic terms, provided that the explanation does not itself constitute advice (see PERG 4.6.15G(2) and 4.6.16G) which would prevent the sale from proceeding as an execution-only sale.
Where the explanation is couched in the terms of the customer’s circumstances, it is personalised to the customer. As such, the interaction is not of a sort permitted by MCOB 4.8A.7AR, the sale cannot be an execution-only sale and the firm would need to comply with MCOB 4.7A.
Giving the customer an indication of the monthly cost of a regulated mortgage contract
This would be permitted, if it were in the form of a generic example, including by way of comparison of two mortgages.
But this would not be permitted if it were an indication personalised to the customer, for example where the indication is of the monthly cost in respect of the amount which the customer wishes to borrow over the term for which the customer wishes to borrow it; such an interaction will trigger the need for advice and the firm would need to comply with MCOB 4.7A.
Talking the customer through a decision tree
This would not be permitted. Although the question of whether decision trees constitute advice is discussed at PERG 4.6.15G, the act of talking the customer through such a decision-making process is likely to involve doing more than merely providing the customer with factual information; as that interaction is not of a sort permitted by MCOB 4.8A.7AR, the sale cannot be an execution-only sale and the firm would need to comply with MCOB 4.7A.
Responding to a query about how to fill out an application form (for example: telling a customer what supporting documents are acceptable as proof of address or identity and how to supply them, or how to calculate and report their income or expenditure)
This would be permitted, as it is information about the process of applying for a mortgage and the making of arrangements (how to supply supporting evidence) related to that process.
Discussing the use of panel solicitors
This would be permitted, provided such discussions are limited to factual information about, for example, whether or not a particular firm of solicitors is on the lender’s panel and what legal fees are or are not included in the mortgage offer.
Taking credit card details by phone to cover payment of a required valuation
This would be permitted, as it is about the making of practical arrangements related to the processing of an application for a regulated mortgage contract.
Rescheduling a property valuation
This would be permitted because the interaction is about the making of arrangements related to the processing of the application.
Calling the customer to tell them that an application for a regulated mortgage contract needs to be submitted in the next two days if a new (higher) interest rate is not to apply
This would be permitted, if it were in the form of a generic communication about the firm planning to change its product offering or interest rates in the near future, and indicating the deadline for applying for the current product.
However, a communication about a particular regulated mortgage contract that the firm knows or reasonably suspects the customer may wish to apply for, and the product it will be replaced with or the rate that will apply if an application for such a product is received after a particular date, would not be permitted as this is information which is personalised to the customer.