This chapter applies if a firm:
in the course of carrying on a regulated mortgage activity:
makes, or anticipates making, a personal recommendation about; or
gives, or anticipates giving, personalised information relating to;
in addition to (1), gives advice or personalised information to the customer on home reversion schemes.
MCOB 4.4 (Initial disclosure requirements) (as modified by MCOB 8) applies only in relation to varying the terms of a regulated lifetime mortgage contract entered into by the customer in any of the following ways:
If a firm is an authorised professional firm, MCOB 1.2.10 R (3) has the effect that when the firm conducts non-mainstream regulated activities with a customer, MCOB 4.4 (Initial disclosure requirements) (as modified by MCOB 8) applies. The firm is only required to provide the initial disclosure information in MCOB 8 Annex 1R or MCOB 4 Annex 2R2 section 7 (What to do if you have a complaint) and section 8 (Are we covered by the Financial Services Compensation Scheme (FSCS)?).2