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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.

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Status: In this content, we have included all amendments made by EU exit-related instruments up to end September 2020. There will be more amendments to be made later this year, further to the September QCP.

MCOB 5A.2 1Applying for an MCD regulated mortgage contract


An MCD mortgage lender must not enter into an MCD regulated mortgage contract, or agree to do so, with a consumer unless the consumer has submitted an application for that particular MCD regulated mortgage contract.

  1. (1)

    The purpose of MCOB 5A.2.1 R, along with other rules in this chapter, is to ensure that the consumer has received details of the particular MCD regulated mortgage contract for which they have applied, and has had the opportunity to satisfy themselves that it is appropriate for them.

  2. (2)

    The application should identify the type of interest rate, rate of interest and the MCD mortgage lender at the point it is submitted by the consumer.