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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.

early repayment charge

    14(in MCOB and BSOCS63) a charge levied by the mortgage lender on the customer in the event that the amount of the loan is repaid in full or in part before a date or event74 specified in the contract.