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.

MCOB 8.7 1Initial disclosure information: unauthorised reversion provider

MCOB 8.7.1RRP

1A firm must ensure that, on first making contact with a customer who is an individual and an unauthorised reversion provider, when it anticipates giving personalised information or advice on a home reversion plan, it must provide the customer with the following warnings in a durable medium:

  1. (1)

    that a home reversion plan is a long-term investment; and

  2. (2)

    that a home reversion plan is a complex legal arrangement, and that expert independent legal advice should be obtained before entering into any agreement.