Related provisions for MCOB 9.1.5

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MCOB 9.4.1GRP
MCOB 9.4 sets out the required content of an illustration for a regulated lifetime mortgage contract provided to a customer by a firm.
MCOB 9.4.2RRP
An illustration provided to a customer must:(1) contain the material set out in MCOB 9 Annex 1 in the order and using the numbered section headings, sub-headings and prescribed text in MCOB 9 Annex 1, except where provided for in MCOB 9.4;(2) follow the format of the template in MCOB 9 Annex 1, with:(a) prominent use of the 'key facts' logo followed by the text 'about this lifetime mortgage' (if a firm resizes the logo it must ensure that the proportions remain consistent with
MCOB 9.4.4RRP
A firm must include in the illustration all prescribed section headings in MCOB 9 Annex 1, except that:(1) in Section 8 (What you owe and when):(a) Section 8 (A) (details of mortgage payments) is only required where the customer is required to make payments to the mortgage lender in respect of the capital or all or part of the interest charged on the regulated lifetime mortgage contract;(b) Section 8(B) (projection of roll-up of interest) is only required where all or part of
MCOB 9.4.6RRP
As a minimum the illustration must be personalised to reflect the following:(1) the specific regulated lifetime mortgage contract in which the customer is interested;(2) the amount of the loan required by the customer, or for drawdown mortgages, the amount the customer wishes to draw down on a monthly (or such frequency that amounts are available) basis. Where the amount the customer can draw down is variable, the firm must agree with the customer an expected amount to be drawn
MCOB 9.4.7GRP
A firm should not illustrate more than one regulated lifetime mortgage contract in the same illustration, for example by using one illustration to compare alternative products.
MCOB 9.4.10RRP
(1) In estimating a term under MCOB 9.4.6 R(5) a firm must:(a) use the following mortality table: PMA92(C=2010) and PFA92(C=2010) for males and females respectively, derivable from the Continuous Mortality Investigation Report 17, published by the Institute of Actuaries and the Faculty of Actuaries in 1999; and2(b) for the purposes of the illustration, where the table does not result in a life expectancy expressed in whole years, the term should be rounded up to the next whole
MCOB 9.3.1RRP
(1) MCOB 5.1 to MCOB 5.5 (with the modifications stated in MCOB 9.3.2 R to MCOB 9.3.12 R) apply to a firm where the regulated mortgage contract is a regulated lifetime mortgage contract. (2) The table in MCOB 9.3.2 R shows how the relevant rules and guidance in MCOB 5 must be modified by replacing the cross-references with the relevant cross-references to rules and guidance in MCOB 9.3 and MCOB 9.4.(3) The table in MCOB 9.3.3 R replaces certain rules and guidance in MCOB 5 with
MCOB 9.3.5RRP
An illustration on a particular regulated lifetime mortgage contract issued by, or on behalf of a mortgage lender, must be an accurate reflection of the costs of the regulated lifetime mortgage contract.
MCOB 9.3.8GRP
There are no restrictions on figures which are quoted as higher than those actually charged by the mortgage lender although this should not be purposely done in order to make one regulated lifetime mortgage contract look more expensive than another.
MCOB 9.3.12RRP
In meeting a requestunder MCOB 5.5.1 R(2)(c), the firm must not delay the provision of the illustration by requesting information other than:(1) the information necessary to personalise the illustration in accordance with MCOB 9.4.6 R, if the firm does not already know it;(2) where the firm acts in accordance with MCOB 5.5.11 R (2), such information as is necessary to ascertain whether or not the contract will be a regulated lifetime mortgage contract;(3) where the interest rates,
MCOB 9.1.3RRP
This chapter applies in the circumstances set out in other rules in MCOB, but in relation to a regulated lifetime mortgage contract, in accordance with the table in MCOB 9.1.4 R.
MCOB 8.1.4RRP
(1) MCOB 4.4 (Initial disclosure requirements) (as modified by MCOB 8) applies only in relation to varying the terms of a regulated lifetime mortgage contract entered into by the customer in any of the following ways:(a) adding or removing a party;(b) taking out a further advance; or(c) switching all or part of the regulated lifetime mortgage contract from one interest rate to another.1(2) Otherwise, this chapter, MCOB 8, applies in relation to any form of variation of a regulated
MCOB 8.3.1RRP
(1) MCOB 4.1 to MCOB 4.6 and MCOB 4.8 (with the modifications stated in MCOB 8.3.3 R and MCOB 8.3.4 R) apply to a firm where the regulated mortgage contract is a regulated lifetime mortgage contract.(2) The table in MCOB 8.3.3 R shows how the relevant rules and guidance in MCOB 4 must be modified by replacing the cross-references in that chapter with the relevant cross-references to rules and guidance in MCOB 8.(3) The table in MCOB 8.3.4 R replaces certain rules and guidance
MCOB 9.5.4RRP
The illustration provided as part of the offer document in accordance with MCOB 6.4.1 R(1) must meet the requirements of MCOB 9.4, with the following modifications:(1) the illustration must be suitably adapted and revised to reflect the fact that the firm is making an offer to a customer and updated to reflect changes to, for example, the interest rate, charges, the exchange rate or the APR required by MCOB 10 (Annual Percentage Rate) at the date the illustration is issued;(2)
SUP 12.5.2GRP
(1) Regulations 3(1) to (3B) of the Appointed Representatives Regulations makes it a requirement that the contract between the firm and the appointed representative (unless it prohibits the appointed representative from representing other counterparties) contains a provision enabling the firm to:4(a) impose such a prohibition; or(b) impose restrictions as to the other counterparties which the appointed representative may represent, or as to the types of investment in relation
MCOB 9.2.1GRP
The purpose of the requirements in this chapter is the same as that in MCOB 5.2, MCOB 6.2 and MCOB 7.2 in respect of regulated lifetime mortgage contracts.