MCOB 6A.1 Application and purpose

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

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

1. (1)

   entering into an MCD mortgage contract;

2. (2)

   varying the terms of an MCD mortgage contract entered into by the consumer 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 MCD regulated mortgage contract from one interest rate to another;

   (whether or not the consumer agrees to enter into the MCD regulated mortgage contract or variation).

3. (3)

   In MCOB 6A, a reference to varying an MCD regulated mortgage contract is to be read as including a reference to an offer to vary an existing MCD regulated mortgage in a manner specified in this section.