Related provisions for MCOB 9.4.14
1 - 9 of 9 items.
(1) 8If any fees are to be deducted from the amount to be released, this must be stated alongside each fee.(2) If the customer has the option of deducting from the amount to be released any of the fees included in this section, the following text must be included: "If you wish you can deduct [this/these/the {type of fee}] fee(s) from the amount to be released under this home reversion plan. This will reduce the amount you get to £ [insert amount of the amount to be released minus
(1) 8Under the section heading "Insurance" the illustration must include details of:(a) insurance which is a tied product; and(b) insurance which is required as a condition of the home reversion plan which is not a tied product.(2) Under this section heading a firm may also provide details of insurance which is optional for the customer to take out.(3) It must be clear to the customer which products he is required to purchase under which circumstances (for example, where both
8The following information must be included if the home reversion plan requires the customer to take out insurance that is a tied product either through the reversion provider or the reversion intermediary:(1) details of which insurance is a tied product;(2) the name of the firm imposing the requirement for the insurance;(3) for how long the customer is obliged to purchase the insurance;(4) an accurate quotation or a reasonable estimate of any payments the customer needs to make
8This section must: (1) follow Section 11 "What happens if you do not want this home reversion plan any more?", unless the illustration is issued by a reversion intermediary, in which case it must follow Section 12 "Using a home reversion intermediary"; and(2) include the name, address and contact point of the firm providing the illustration.