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 9.1 Application



This chapter applies to a firm in a category listed in column (1) of the table in MCOB 9.1.2 R in accordance with column (2) of that table, except that those provisions that by their nature are only relevant to regulated mortgage contracts do not apply to home reversion plans2.


2The rules and guidance that are not relevant to home reversion plans are those related, for example, to interest rates, APR, higher lending charge, mortgage credit cards, multi-part mortgages and foreign currency mortgages.



This chapter applies in the circumstances set out in other rules in this sourcebook, but in relation to an equity release transaction2, in accordance with the table in MCOB 9.1.4 R.


This table belongs to MCOB 9.1.3 R

Section of MCOB 9

Applies in relation to an equity release transaction as set out in the following rules:2


MCOB 9.1, MCOB 9.2

all of the rules below in this column2

MCOB 9.3, MCOB 9.4

MCOB 5.1.3 R

MCOB 9.5

MCOB 6.1.3 R

2MCOB 9.62

MCOB 7.1.3 R


In this chapter, references to an equity release transaction2 include, where the context requires, references to arrangements which are capable of becoming an equity release transaction2.


2This chapter does not apply in relation to arranging, advising on or administering a home reversion plan for a customer acting in his capacity as an unauthorised reversion provider.

MCD application

  1. (1)

    3This chapter does not apply to an MCD lifetime mortgage, except as set out in (2) to (3), below.

  2. (2)

    MCOB 9.4.33 R, MCOB 9.4.35 R, MCOB 9.4.62 R and MCOB 9.4.63 R apply to the extent specified by MCOB 5A.6.2 R.

  3. (3)

    MCOB 9.6 to MCOB 9.8 apply, except for rules that modify or replace MCOB 7.6.7R to MCOB 7.6.17R (because those rules do not apply to an MCD mortgage lender or an MCD mortgage credit intermediary, MCOB 7B applies instead: see MCOB 7.1.2AR and MCOB 7.1.2BG).