Related provisions for MCOB 7B.1.4

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MCOB 7.6.7RRP
Before a customer submits an application to a firm for a further advance on an existing regulated mortgage contract or for a further advance that is a new regulated mortgage contract, if the further advance requires the approval of the mortgage lender, the firm must provide the customer with either8(1) an illustration that complies with the requirements of MCOB 5 (Pre-application disclosure) and MCOB 7.6.9R to MCOB 7.6.17R; or8(2) an ESIS that complies with MCOB 5A (MCD pre-application
MCOB 7.6.8GRP
If a number of different firms are involved in relation to the transaction referred to in MCOB 7.6.7 R, having regard to MCOB 2.5.4 R(2), those firms should take reasonable steps to establish which one of them is responsible for providing the customer with the illustration or ESIS8 required by MCOB 7.6.7 R.
MCOB 7.6.14RRP
(1) The illustration provided in accordance with MCOB 7.6.7R(1) may diverge from the requirements of MCOB 5 (Pre-application disclosure) where it is necessary to do so in order to reflect the fact that the illustration is being provided for a further advance.8(2) The ESIS provided under MCOB 7.6.7R(2) may diverge from the requirements of MCOB 5A where it is necessary to do so to reflect that the ESIS is being provided for a further advance.8
MCOB 7.6.17RRP
(1) Where the further advance for which the customer has applied is in the form of an annual insurance premium secured by a first legal charge, a firm:(a) may, instead of providing an illustration or ESIS8 in accordance with MCOB 7.6.7 R, provide confirmation of the matters required by MCOB 7.6.5 R; and(b) where (a) applies use the following text:"Your annual insurance premium has been/will be added to your mortgage account [unless you pay it by dd/mm/yy]. If you choose to pay
MCOB 7.6.18RRP
Before a customer submits an application to a firm to change all or part of a regulated mortgage contract from one interest rate to another (for example, a transfer from a variable rate regulated mortgage contract to a fixed rate regulated mortgage contract, or from one fixed rate regulated mortgage contract to another fixed rate regulated mortgage contract), the firm must provide the customer with either:77(1) an illustration for the whole loan that complies with the requirements
MCOB 7.6.19GRP
If a number of different firms are involved in relation to the transaction referred to in MCOB 7.6.18 R, having regard to MCOB 2.5.4 R(2), those firms should take reasonable steps to establish which one of them is responsible for providing the customer with the illustration or ESIS7 required by MCOB 7.6.18 R.
MCOB 7.6.20RRP
7(1) The illustration provided in accordance with MCOB 7.6.18 R may diverge from the requirements of MCOB 5 where it is necessary to do so to reflect the fact that the illustration is being provided for a rate switch.7(2) The ESIS provided under MCOB 7.6.18R (2) may diverge from the requirements of MCOB 5A where it is necessary to do so to reflect that the ESIS is being provided for a rate switch.7
MCOB 7.6.22RRP
Before a customer submits an application to add or remove a party to a regulated mortgage contract, a firm must provide any customer who will remain or become a party to the contract with either:717(1) an illustration for the whole loan that complies with the requirements of MCOB 5 (Pre-application disclosure); or7(2) an ESIS for the whole loan which complies with the requirements of MCOB 5A (MCD Pre-application disclosure).7
MCOB 7.6.24GRP
If a number of different firms are involved the transaction referred to in MCOB 7.6.22 R, having regard to MCOB 2.5.4 R(2), those firms should take reasonable steps to establish which one of them is responsible for providing the customer with the illustration or ESIS7 required by MCOB 7.6.22 R.7
MCOB 7.6.25RRP
7(1) The illustration provided in accordance with MCOB 7.6.22 R may diverge from the requirements of MCOB 5 (Pre-application disclosure) where it is necessary to do so to reflect the fact that the illustration is being provided in respect of the addition or removal of a party to the contract.7(2) The ESIS provided under MCOB 7.6.22R (2) may diverge from the requirements of MCOB 5A (MCD Pre-application disclosure) where it is necessary to do so to reflect that the ESIS is being
MCOB 7.6.31RRP
Where MCOB 7.6.28 R applies, a firm may issue either:77(1) an illustration in accordance with MCOB 5 (Pre-application disclosure) in place of the information set out in MCOB 7.6.28 R; or7(2) an ESIS in accordance with MCOB 5A (MCD Pre-application disclosure),7in place of the information set out in MCOB 7.6.28 R.7
MCOB 7.6.31ARRP
(1) 7The illustration provided under MCOB 7.6.31R (1) may diverge from the requirements of MCOB 5 (Pre-application disclosure) where it is necessary to do so to reflect the circumstances in which it is being provided.(2) The ESIS provided under MCOB 7.6.31R (2) may diverge from the requirements of MCOB 5A (MCD Pre-application disclosure) where it is necessary to do so to reflect the circumstances in which it is being provided.
MCOB 7.6.32RRP
Where MCOB 7.6.28 R applies and the customer simultaneously requests a rate switch or the addition or removal of a party to the contract, a firm will not be required to provide the information in accordance with MCOB 7.6.28 R where it is provided as part of:77(1) an illustration issued in accordance with MCOB 7.6.18R (1) or MCOB 7.6.22R (1); or7(2) an ESIS issued under MCOB 7.6.18R (2) or MCOB 7.6.22R (2).7
MCOB 7.6.33GRP
7(1) Where a customer simultaneously requests a rate switch and the addition or removal of a party to the loan, a firm will not be required to provide the customer with a separate illustration for each in accordance with MCOB 7.6.18R (1) and MCOB 7.6.22R (1). The firm may provide the customer with a single illustration that complies with the requirements of MCOB 5(Pre-application disclosure) for both.7(2) Where a customer simultaneously requests a rate switch and the addition
MCOB 7.6.34RRP
7Where a firm is required to provide a customer with an ESIS under MCOB 7.6.18R (2) or MCOB 7.6.22R (2), or a firm chooses to provide a customer with an ESIS under MCOB 7.6.31R (2), the firm need not include the additional APRC required under MCOB 10A.1.6 R, Section 4 of MCOB 5A Annex 1 and MCOB 5A Annex 2, 6.2R to 6.8R.
MCOB 7.6.35RRP
7Where a firm provides a customer with an ESIS under MCOB 7.6.18R (2), MCOB 7.6.22R (2) or MCOB 7.6.31R (2), that includes an additional APRC, the firm must either:(1) base that additional APRC on the APRC previously provided to the customer under MCOB 5A (MCD Pre-application disclosure); or(2) calculate that additional APRC in accordance with MCOB 10A.1.6 R, Section 4 of MCOB 5A Annex 1 and MCOB 5A Annex 2, 6.2R to 6.12R.
MCOB 5A.3.1RRP
A firm that is an MCD mortgage credit intermediary must take reasonable steps to ensure that an ESIS which it issues, or which is issued on its behalf, other than that provided by an MCD mortgage lender is accurate.
MCOB 5A.3.2RRP
It is the responsibility of the firm to ensure compliance with MCOB 5A.3.1 R. However, where a firm can show that it was reasonable for it to rely on information provided by another person, other than the MCD mortgage lender, that an ESIS was accurate, it may be able to rely on MCOB 2.5.2 R, if this turns out not to be the case.
MCOB 5A.3.3RRP
A firm must not issue an ESIS to a consumer for an MCD regulated mortgage contract for which the consumer is clearly ineligible on the basis of the information that the firm has obtained from the consumer or the MCD mortgage lender's lending criteria.
MCOB 5A.3.4GRP
The purpose of MCOB 5A.3.3 R is not to require a firm to ascertain whether a consumer is eligible for a particular MCD regulated mortgage contract before providing an ESIS. Instead, the purpose is to ensure that the firm takes into account the information it has obtained from the consumer before providing an ESIS to the consumer.
MCOB 5A.3.5RRP
In providing an ESIS to a consumer, a firm must explain to the consumer the importance of reading the ESIS and understanding it.
MCOB 5A.3.6GRP
A firm may satisfy MCOB 5A.3.5 R by drawing the consumer's attention orally to the importance of reading and understanding the ESIS. For example, in a face-to-face meeting, or by referring to its importance in a covering letter or electronic communication, or other written information that accompanies the ESIS.
MCOB 5A.3.7RRP
Any ESIS provided to a consumer by a firm must be in a durable medium.[Note: article 14(2) of the MCD]
MCOB 5A.3.10RRP
(1) Whenever a firm provides a consumer with information specific to the amount that the consumer wants to borrow on a particular MCD regulated mortgage contract, following an assessment of the consumer's needs and circumstances to comply with MCOB 4.7A.2 R, it must give, clearly and prominently, the following information:(a) the same information on the firm's product range as is required by MCOB 4.4A.1 R, MCOB 4.4A.2 R and MCOB 4.4A.4R (1) (which require firms to provide information
MCOB 5A.3.12RRP
(1) Whenever, as part of an execution-only sale (or potential execution-only sale), a consumer provides a firm with the information in MCOB 4.8A.14R (1), MCOB 4.8A.14R (2) or (3), the firm must inform the consumer, clearly and prominently, that the consumer has the right to request an ESIS for any MCD regulated mortgage contract which the firm is able to offer the consumer.(2) A firm need not give the information in (1) if it has previously given that information in compliance
MCOB 5A.3.13RRP
A firm must make an adequate record of each ESIS that it issues to a consumer under MCOB 5A.4.1 R where the consumer applies for that particular MCD regulated mortgage contract.
MCOB 5A.3.15RRP
MCOB 5A.3.14 R does not require a firm to keep records of ESISs that are issued to a consumer when the consumer does not apply to enter into that particular MCD regulated mortgage contract.
MCOB 5A.3.16GRP
The record maintained under MCOB 5A.3.13 R should contain or refer to matters such as:(1) the date on which the ESIS was provided to the consumer;(2) the date of the application made by the consumer; and(3) details of the medium through which the ESIS was provided.
MCOB 5A.4.1RRP
(1) A firm must provide the consumer with an ESIS for an MCD regulated mortgage contract before the consumer submits an application for that MCD regulated mortgage contract to an MCD mortgage lender, unless an ESIS for that MCD regulated mortgage contract has already been provided.(2) Except in the circumstances in MCOB 5A.4.2 R, a firm must provide the consumer with an ESIS for an MCD regulated mortgage contract when any of the following occurs, unless an ESIS for that MCD regulated
MCOB 5A.4.2RRP
A firm need not provide an ESIS:(1) in relation to a direct deal; (2) if the consumer refuses to disclose key information (for example, in a telephone conversation, his name or a communication address) or where the consumer is not interested in pursuing the enquiry; or(3) if the firm does not wish to do business with the consumer.
MCOB 5A.4.3RRP
If the firm chooses not to give an ESIS in the circumstances in MCOB 5A.4.2R (1), where it has given advice on a direct deal, the firm must give the consumer a written record of the advice.
MCOB 5A.4.5GRP
The effect of MCOB 5A.2.1 R and MCOB 5A.4.1R (1) is that, if a consumer's application to enter into an MCD regulated mortgage contract with a MCD mortgage lender, made through an MCD credit intermediary, is subsequently passed by that firm to another MCD mortgage lender, then the firm must ensure that the application is amended and the consumer is provided with an ESIS for the other MCD mortgage lender'sMCD regulated mortgage contract before the application is passed to the other
MCOB 5A.4.6GRP
If a firm chooses to issue an offer document in addition to an ESIS, it will need to comply with MCOB 6A.3.1R (MCD Mortgages: content of the offer document).
MCOB 5A.4.7RRP
A firm must not undertake any action that commits the consumer to an application (including accepting product-related fees for the MCD regulated mortgage contract concerned) until the consumer has had the opportunity to consider an ESIS.
MCOB 5A.4.9RRP
The firm dealing directly with the consumer is responsible for ensuring compliance with the content and timing requirements, ie, an MCD mortgage lender is not responsible for ensuring that a consumer has received an ESIS before accepting an application from an MCD mortgage credit intermediary.
MCOB 5A.4.10RRP
Where a firm has already provided an ESIS under MCOB 5A.4.1 R and the terms for the proposed regulated mortgage contract are subsequently materially altered or different, the firm must ensure that the consumer is provided with a revised ESIS, before acting on the amendment, when the change occurs at the point that a consumer submits an application for the MCD regulated mortgage contract.
MCOB 5A.4.12RRP
(1) If, at the point an ESIS must be provided under MCOB 5A.4.1 R, a firm is uncertain whether the contract will be an MCD regulated mortgage contract, the firm must:(a) provide an ESIS; or (b) seek to obtain from the consumer, information that will enable the firm to ascertain whether the contract will be an MCD regulated mortgage contract.(2) Where (1)(b) applies, an ESIS must be provided, unless, on the basis of the information provided by the consumer, the firm has reasonable
MCOB 5A.4.13GRP
Where the consumer requests an ESIS for a particular MCD regulated mortgage contract (see MCOB 5A.4.1R (2)(b)), the purpose of MCOB 5A.4.14 R, MCOB 5A.4.15 R and MCOB 5A.4.16 G is to ensure that the consumer receives an ESIS without unnecessary delay. These requirements do not restrict the information that the firm may obtain from the consumer after it has provided the consumer with an ESIS.
MCOB 5A.4.14RRP
In meeting a request for an ESIS under MCOB 5A.4.1R (2)(b), the firm must not delay the provision of the ESIS by requesting information other than:(1) such information as is necessary to complete the ESIS in accordance with MCOB 5A.5.2 R and MCOB 5A.5.3 R, if the firm does not already know it;(2) where the firm acts in accordance with MCOB 5A.4.12R (2), such information as is necessary to ascertain whether or not the contract will be an MCD regulated mortgage contract;(3) where
MCOB 5A.4.16GRP
A firm may use information that it already holds on the consumer for the purpose of producing the ESIS (for example, if it already holds the consumer's credit record), providing the use of this information does not delay the consumer receiving the ESIS and the consumer's consent is obtained, where appropriate.
MCOB 5A.4.17RRP
If, on the basis of the information obtained from the consumer or, on the basis of information that the firm already holds on the consumer, the firm would do business with the consumer but not on the terms requested, the firm may provide the consumer with an ESIS for a different MCD regulated mortgage contract, if it chooses to do so.
MCOB 5A.5.1GRP
MCOB 5A.5 sets out the required content of an ESIS provided to a consumer by a firm.
MCOB 5A.5.2RRP
An ESIS provided to a consumer must follow the form and contain the material in MCOB 5A Annex 1 R.
MCOB 5A.5.3RRP
A firm must:(1) reproduce the text in MCOB 5A Annex 1 R in the ESIS;(2) replace the indications between square brackets with the corresponding information; (3) complete the ESIS in accordance with MCOB 5A Annex 2;(4) wherever the words “where applicable” are indicated:(a) provide the information required, if it is relevant to the MCD regulated mortgage contract; or(b) where the information is not relevant to the MCD regulated mortgage contract, delete the information in question
MCOB 5A.5.4GRP
(1) The ESIS can contain the MCD mortgage lender's or MCD mortgage credit intermediary's logo and other 'brand' information, so long as the requirements of MCOB 5A.5 are satisfied.(2) The ESIS can contain page numbers and other references that aid understanding, record keeping and identification of a particular ESIS, such as the date and time it is produced or a unique reference number, provided these do not detract from the content of the ESIS. (3) Firms are reminded of their
MCOB 5A.5.5RRP
The ESIS provided to consumers must:(1) contain only the material prescribed in MCOB 5A.5 and no other material; and(2) be in a document separate from any other material that is provided to the consumer.
MCOB 5A.5.6GRP
A firm should not illustrate more than one MCD regulated mortgage contract in the same ESIS, for example by using one ESIS to compare alternative products, repayment methods or repayment terms.
MCOB 5A.5.8RRP
2For a retirement interest-only mortgage where, in accordance with MCOB 1.2.16R(1), the firm elects to provide an ESIS instead of an illustration:(1) the ESIS may diverge from the requirements of MCOB 5A where it is necessary to do so to describe a retirement interest-only mortgage, and(2) the firm must also comply with MCOB 5.4.25R, MCOB 5.4.26R and MCOB 5.6.6R as though a reference to an illustration is a reference to an ESIS.
MCOB 5A.6.1RRP
(1) A firm may provide information to the consumer in addition to that contained in the ESIS.(2) A firm must provide the additional information in (1) in a separate document.(3) A firm may annexe the separate document in (2) to the ESIS.[Note: article 14(8) of the MCD]
MCOB 5A.6.2RRP
(1) Where a firm issues an ESIS in relation to an MCD lifetime mortgage, the firm must simultaneously issue the consumer with a document in a durable medium containing the statements and warnings set out in the following rules, as modified by (2) below, as if the mortgage was an MCD exempt lifetime mortgage: MCOB 9.4.33 R, MCOB 9.4.35 R, MCOB 9.4.62 R, and MCOB 9.4.63 R only.(2) The document issued under (1) must contain the prescribed section headings but need not contain section
MCOB 7B.1.2RRP
Before a consumer submits an application to a firm for a further advance on an existing or new MCD regulated mortgage contract or for a further advance that is a new MCD regulated mortgage contract, if the further advance requires the approval of the MCD mortgage lender, the firm must provide the consumer with an ESIS that complies with MCOB 5A (MCD pre-application disclosure) and MCOB 7B.1.4 R for the further advance, unless an ESIS has already been provided.
MCOB 7B.1.3GRP
If a number of different firms are involved in relation to the transaction in MCOB 7B.1.2 R, having regard to MCOB 2.5.4 R (2), those firms should take reasonable steps to establish which one of them is responsible for providing the consumer with the ESIS required by MCOB 7B.1.2 R.
MCOB 13.4.1RRP
If a customer falls into arrears on a regulated mortgage contract, a firm must as soon as possible, and in any event within 15 business days of becoming aware of that fact, provide the customer with the following in a durable medium:(1) the current Money Advice Service information sheet “Problems paying your mortgage”;33(2) a list of the due payments either missed or only paid in part;(3) the total sum of the payment shortfall4;4(4) the charges incurred as a result of the payment
MCOB 13.4.2GRP
(1) The Money Advice Service3 information sheet “Problems3 paying your mortgage” 2is available on the website www.moneyadviceservice.org.uk;3 copies can also be obtained by calling 0300 500 5000.232(2) [deleted]22
MCOB 13.4.3GRP
(1) A firm may provide the information in MCOB 13.4.1 R (2), (3), (4), (5) and (6) orally, for example by telephone, but must provide the information in a durable medium with a copy of the Money Advice Service3 information sheet “Problems3 paying your mortgage” 23within 15 business days of becoming aware of the customer's account falling into arrears.23(2) Where a firm provides the information in MCOB 13.4.1 R when a payment shortfall4 occurs but before the customer's account
MCOB 6A.3.1RRP
(1) If a firm offers to enter into an MCD regulated mortgage contract with a consumer, it must provide the consumer with a binding offer set out in an offer document. (2) The firm may also provide an ESIS. (3) The firm's offer in the offer document must be on the basis of the information in the ESIS relevant to that offer.(4) When an MCD mortgage lender provides the consumer with a binding offer, that offer must be accompanied by an ESIS where the characteristics of the offer
MCOB 6A.3.2RRP
(1) If a firm offers to vary an MCD regulated mortgage contract with a consumer, it must provide the consumer with an offer document.(2) The firm may also provide an ESIS. (3) The firm's offer in the offer document must be on the basis of the information in the ESIS relevant to that offer. (4) When an MCD mortgage lender offers to vary an MCD regulated mortgage contract with a consumer, the offer document must be accompanied by an ESIS where:(a) the characteristics of the offer
MCOB 6A.3.7GRP
Where it is known that a loan will be released in instalments, for example in the case of a self-build mortgage, the loan can involve a binding offer, ESIS and the reflection period either for:(1) the full amount; or(2) an initial amount, which would be replaced by a binding offer, an ESIS and reflection period for a larger amount and so on.
CONC 7.18.5RRP
The notice referred to in CONC 7.18.3 R must contain the following information:(1) a form of wording to the effect that it is given in compliance with the rules because the borrower is behind with his payments under the agreement;(2) a form of wording encouraging the borrower to discuss the state of his account with the firm;(3) the date of the notice;(4) a description of the agreement sufficient to identify it;(5) (a) the name, telephone number, postal address and, where appropriate,
CONC 7.18.7RRP
(1) Subject to (2), where the total amount which the borrower has failed to pay in relation to the last two payments due under the agreement prior to the date on which the firm came under a duty to give the borrower a notice under CONC 7.18.3 R is not more than £2, the notice:(a) need not include any of the information or statements referred to in CONC 7.18.4 R;(b) but, in that event, shall contain a statement in the following form:"You have failed to make two minimum paymentsFailing
MCOB 13.7.1RRP
Where the regulated mortgage contract is for a business purpose or is with a high net worth mortgage customer4, a firm may as an alternative to MCOB 13.4.1 R(1) provide the following information in a durable medium instead of the Money Advice Service3information sheet “Problems3 paying your mortgage”:233(1) details of the consequences if the payment shortfall4 is not cleared;4(2) a description of the options available to the customer for clearing the payment shortfall4; and4(3)
MCOB 1.2.16RRP
(1) 8 For any regulated mortgage contract which is not an MCD regulated mortgage contract, a firm may elect to comply with any part of MCOB as if the contract was an MCD regulated mortgage contract. (2) Where the contract in (1) is an MCD exempt lifetime mortgage that is not a retirement interest-only mortgage12, the firm must continue to provide an illustration in accordance with the relevant requirements in MCOB, rather than an ESIS.
MCOB 1.2.17GRP
8The purpose of MCOB 1.2.16 R is to allow a firm to apply provisions of MCOB which implement the MCD for an MCD regulated mortgage contract to regulated mortgage contracts that are not MCD regulated mortgage contracts, save in respect of MCD exempt lifetime mortgages (other than retirement interest-only mortgages)12 where the firm must continue to provide an illustration in accordance with the relevant requirements in MCOB, rather than an ESIS.
MCOB 4.4A.8RRP
(1) The information about the basis of remuneration required by MCOB 4.4A.1R (2) must include all relevant information, including the following details:(a) any fees which the firm will charge to the customer;(b) when any such fees will be payable and, if applicable, reimbursable; and(c) whether the firm will receive commission from the mortgage lender or another third party and, if applicable, whether any commission will be offset against any fees charged and the arrangements
MCOB 4.4A.20AGRP
(1) 2An MCD mortgage lender or an MCD credit intermediary may comply with MCOB 4.4A.18R (3) and (5) to MCOB 4.4A.18R (9) by providing an ESIS to the consumer prior to the conclusion of the MCD regulated mortgage contract. (2) Provided that the provisions of MCOB 4.4A on the methods and timing of disclosure are complied with, an MCD mortgage lender or an MCD credit intermediary may comply with MCOB 4.4A.18R (1), (2) and MCOB 4.4A.18R (4) by providing the necessary information in
MCOB 5.6.65RRP
The following text must be included at the end of Section 7 'Are you comfortable with the risks?': The Money Advice Service8 information sheet "You can afford your mortgage now, but what if...?" will help you consider the risks. You can get a free copy from http://www.moneyadviceservice.org.uk,8612or by calling 0800 138 7777.’7866
MCOB 5.6.145RRP
The following text must be included at the end of Section 7 'Are you comfortable with the risks?': The Money Advice Service8 information sheet "You can afford your mortgage now, but what if...?" will help you consider the risks. You can get a free copy from http://www.moneyadviceservice.org.uk,8 or by calling 0800 138 7777.'76128686
CONC 7.3.7AGRP
(1) 3If a customer is in default or in arrears difficulties, the firm should, where appropriate:(a) inform the customer that free and impartial debt advice is available from not-for-profit debt advice bodies; and(b) refer the customer to a not-for-profit debt advice body. (2) A firm may refer the customer to a not-for-profit debt advice body by, for example, providing the customer with a copy of the current arrears information sheet under section 86 of the CCA, or with the name
MCOB 4A.2.1RRP
(1) An MCD mortgage lender or MCD mortgage credit intermediary must provide, orally or in a durable medium, adequate explanations to the consumer of the proposed MCD regulated mortgage contract and any ancillary services, before any binding offer is issued to that consumer, to enable the consumer to assess whether the proposed MCD regulated mortgage contract and ancillary services meets their needs and financial situation.[Note: article 16(1) of the MCD](2) The explanations must,
MCOB 3A.2.1RRP
(1) 1When a firm communicates information to a customer, it must take reasonable steps to do so in a way that is fair, clear and not misleading.(2) A firm must be able to show that it has taken reasonable steps to ensure that any illustration or ESIS is fair, clear and not misleading.
SUP 10C.11.24GRP
(1) A statement of responsibilities (including its attachment sheet for additional information) should:(a) be complete by itself;(b) not refer to documents not forming part of it; and(c) only contain material about the matters that this chapter, the corresponding PRA requirements and the Act say should be included in it.(2) For example, if it is necessary to include relevant material from the firm's report and accounts, the statement of responsibilities should not attach the whole
CONC 6.7.20RRP
Before a firm agrees to refinance high-cost short-term credit, it must: (1) give or send an information sheet to the customer; and(2) where reasonably practicable to do so, bring the sheet to the attention of the customer before the refinance;in the form of the arrears information sheet issued by the FCA referred to in section 86A of the CCA with the following modifications:(3) for the title and first sentence of the information sheet substitute:“High-cost short-term loansFailing