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MCOB 6.1 Application


MCOB 6.1.1R

Subject to MCOB 6.1.2A R, this 5 chapter applies to a firm in a category listed in column (1) of the table in MCOB 6.1.2 R in accordance with column (2) of that table.

MCOB 6.1.2R

This table belongs to MCOB 6.1.1R

(1) Category of firm

(2) Applicable section

mortgage lender

whole chapter except MCOB 6.83

3home purchase provider

MCOB 6.1 (except MCOB 6.1.6 G), MCOB 6.2 and MCOB 6.8

reversion provider

see MCOB 9.5 for the application of this chapter

4SRB agreement provider

MCOB 6.1.1 R to MCOB 6.1.3 R, MCOB 6.1.5 R, MCOB 6.2, MCOB 6.3 and MCOB 6.9

MCOB 6.1.2AR

This chapter does not apply to a firm that is an MCD mortgage lender.


MCOB 6.1.3R

This chapter applies with respect to an offer made by a firm to a customer with a view to the firm:

  1. (1)

    entering into a home finance transaction;3

  2. (2)

    varying the terms of a home finance transaction3 entered into by the customer in any of the following ways:

    1. (a)

      adding or removing a party;

    2. (b)

      making a further advance; or

    3. (c)

      switching all or part of the regulated mortgage contract from one interest rate to another;1

(whether or not the customer agrees to enter into the home finance transaction3 or variation).

MCOB 6.1.4R

In relation to a lifetime mortgage3, this chapter, MCOB 6, is modified by MCOB 9 (Equity release3: product disclosure).2

MCOB 6.1.5R

In MCOB 6, a reference to an offer to enter into a home finance transaction3 is to be read as including a reference to an offer to vary an existing home finance transaction3 in a manner specified in 3this section3 if the context so requires.

MCOB 6.1.6G

Firms may diverge from the requirements in MCOB 5.6 (Content of illustrations) where necessary to reflect the fact that they are providing an illustration for a variation as part of an offer document.