Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

MCOB 5.2 Purpose

MCOB 5.2.1GRP
  1. (1)

    MCOB 5 amplifies Principle 6 and Principle 7.

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  2. (2)

    The purpose of MCOB 5 is to ensure that, before a customer submits an application for a particular home finance transaction1, he is supplied with information that makes clear:

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    1. (a)

      (in relation to a regulated mortgage contract) its features, any linked deposits, any linked borrowing and any tied products; and1

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    2. (b)

      the price that the customer will be required to pay under that home finance transaction, 1to enable the customer to make a well-informed purchasing decision.2

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    3. (c)

      [deleted]1

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  3. (3)

    MCOB 5 requires information to be disclosed in a consistent way to facilitate comparison between products of different providers1.

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