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MCOB 6A.1 1Application and purpose


1This 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.


MCOB 6A amplifies Principle 6 and Principle 7. The purpose of MCOB 6A is to ensure that a customer receives a clear offer document to enable them to check the features and price of the MCD regulated mortgage contract before they enter into it.