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 5A.1 1Application and purpose

MCOB 5A.1.1RRP

This chapter applies to a firm that is an MCD mortgage lender or MCD mortgage credit intermediary.

MCOB 5A.1.2GRP
  1. (1)

    MCOB 5A amplifies Principle 6 and Principle 7.

  2. (2)

    The purpose of MCOB 5A is to ensure that, before a consumer submits an application for a particular MCD regulated mortgage contract, they are supplied with information that makes clear:

    1. (a)

      its features, any linked deposits, any linked borrowing and any tied products; and

    2. (b)

      the price that the consumer will be required to pay under that contract, to enable the consumer to make a well-informed purchasing decision.

  3. (3)

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