Related provisions for MCOB 4.6.4
1 - 3 of 3 items.
A consumer2 has no right to cancel a home finance transaction1 concluded with a firm but may have a right to cancel a distance contract concluded with a mortgage intermediary,3 a home purchase intermediary or a SRB intermediary31for the provision of his services. Whether a mortgage intermediary,3 a home purchase intermediary or a SRB intermediary31 concludes a distance mortgage mediation contract,3 a distance home purchase mediation contract or a distance regulated sale and rent
A consumer2 who has a right to cancel a distance mortgage mediation contract, a distance home purchase mediation contract or a distance regulated sale and rent back mediation contract31 may, without giving any reason, cancel the contract by serving notice on the firm, before the expiry of the cancellation period in MCOB 4.6.4 R either:23(1) by serving on, or otherwise sending by post, notice to the firm's last known address, addressed to the firm, its appointed representative
(1) There are certain additional disclosure requirements laid down by the Distance Marketing Directive that will have to be provided by a mortgage intermediary,6 a home purchase intermediary and a SRB intermediary64 to a consumer5 prior to the conclusion of a distance mortgage mediation contract,66 a distance home purchase mediation contract4 or a distance regulated sale and rent back mediation contract.6 The purpose of this section, MCOB 4.5, is to set out those additional requirements.
If the initial contact of a kind in MCOB 4.4.1 R (1) is with a consumer5 with a view to concluding a distance mortgage mediation contract,6 a distance home purchase mediation contract or a distance regulated sale and rent back mediation contract6,4 a firm must:546(1) in addition to initial disclosure information and any other required information, provide the consumer5 with the information in MCOB 4 Annex 3 in a durable medium in good time before the conclusion of the distance
The effect of MCOB 4.11.9R is that a SRB agreement provider is expected to carry out its own assessments of affordability and appropriatenessin relation to a particular regulated sale and rent back agreement, unless it is reasonable for it to rely on another firm to have done so in relation to a particular transaction.