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MCOB 6.5 1Mortgages: information1 to be provided in the offer document or separately

Tariff of charges

MCOB 6.5.1R

If a firm makes an offer to a customer with a view to entering into a regulated mortgage contract, it must provide the customer, along with the offer document, with a tariff of charges that could be incurred on the regulated mortgage contract.

MCOB 6.5.2R

If the regulated mortgage contract has any linked borrowing or linked deposits, details of the charges on these linked facilities, for example charges payable on a linked current account, must be included in the firm's tariff of charges.

MCOB 6.5.3G

A firm may include the tariff of charges as an integral part of the offer document, or provide it separately along with the offer document.

Mortgage credit cards

MCOB 6.5.4R

If a firm makes an offer to a customer with a view to entering into a regulated mortgage contract that includes a mortgage credit card, it must provide the customer with information explaining that the card will not give the customer the statutory rights associated with traditional credit cards.

MCOB 6.5.5G

A firm may include the information described in MCOB 6.5.4 R as an integral part of the offer document, or provide it separately along with the offer document.

Distance contracts with retail customers

MCOB 6.5.6R

If a firm makes an offer to a consumer2 with a view to entering into a regulated mortgage contract which is a distance contract, it must provide the consumer2 with the following information with the offer document:

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  1. (1)

    the EEA State or States whose laws are taken by the firm as a basis for the establishment of relations with the customer prior to the conclusion of the regulated mortgage contract;

  2. (2)

    any contractual clause on law applicable to the regulated mortgage contract or on competent court, or both;

  3. (3)

    the language in which the contract is supplied and in which the firm will communicate during the course of the regulated mortgage contract; and

  4. (4)

    if not provided previously:

    1. (a)

      all of the contractual terms and conditions of the regulated mortgage contract to which the offer document relates; and

    2. (b)
      1. (i)

        an appropriate status disclosure statement (compliant with GEN 4) for the mortgage lender;4

        4
      2. (ii)

        the mortgage lender's Firm Reference Number3; and

        3
      3. (iii)

        confirmation that the customer can check the Financial Services Register on the FCA's website www.fca.org.uk/firms/financial-services-register or by contacting the FCA on 0800 111 6768.