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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.

You are viewing the version of the document as on 2016-10-03.

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 7 Annex 1 An example of the Total Borrowing section.

MCOB 7 Annex 1G

This Annex belongs to MCOB 7.6.12G

7a. Total Borrowing

This section gives you information about how your mortgage will be affected by taking out this additional borrowing. Talk to your mortgage lender if you are not sure of the details of your current mortgage.

When this additional borrowing is added to your existing mortgage, the total amount you owe will be £ x and your monthly payments based on this amount will be

Monthly Payment

Initial monthly payment

£a

After 12 months the discount period on your further borrowing will end, and assuming rates do not change, your new monthly payment will be

£b

After 26 months the fixed rate period on a portion of your mortgage will end, and assuming rates do not change, your new monthly payment will be

£c

Remember to add the cost of any savings plan to these monthly payments