Related provisions for MCOB 1.2.4A

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MCOB 1.2.1RRP
1(1) This sourcebook3 applies to every firm that:113(a) carries on a home finance activity3 (subject to 31the business loan and loans to high net worth mortgage customers7 application provisions3); or3(b) communicates or approves a financial promotion of qualifying credit, of a home purchase plan,6of a home reversion plan3or of a regulated sale and rent back agreement.636(2) Where a firm has outsourced activities to a third party processor, any rule in MCOB which requires the
MCOB 1.2.3RRP
In relation to a regulated mortgage contract for a business purpose(1) MCOB applies if the customer is not a large business customer; and(2) if MCOB applies, a firm must either:(a) comply with MCOB in full (disregarding the tailored provisions for regulated mortgage contracts for a business purpose in the remainder of MCOB); or(b) comply with MCOB in full, but taking account of all7 those tailored provisions, including MCOB 1.2.7 R.7
MCOB 1.2.3ARRP
7In relation to a regulated mortgage contract with a high net worth mortgage customer, a firm must either:(1) comply with MCOB in full (disregarding the tailored provisions for regulated mortgage contracts with high net worth mortgage customers in the remainder of MCOB); or(2) subject to MCOB 1.2.9C R, comply with MCOB in full, but taking account of all those tailored provisions, including MCOB 1.2.7 R.
MCOB 1.2.3BRRP
7Where any provision of MCOB is expressed to apply in respect of a high net worth mortgage customer, it applies in respect of joint borrowers (or potential borrowers) if one of them satisfies that definition in his own right.
MCOB 1.2.9GRP
The disclosure rules in MCOB place particular emphasis on the description of borrowing. Where the regulated mortgage contract is for a business purpose or with a high net worth mortgage customer7, a firm should reflect this emphasis in any disclosure by first describing any borrowing before addressing the other facilities provided under the regulated mortgage contract.
MCOB 1.2.9CRRP
7A firm may not treat a customer as being a high net worth mortgage customer for the purposes of MCOB unless either:(1) it is aware, from evidence already in its possession as a result of a business relationship between it and the customer, that the customer satisfies the definition of high net worth mortgage customer; or(2) it has first obtained a written statement which:(a) confirms that the customer satisfies the definition of high net worth mortgage customer;(b) specifies
MCOB 5.7.1AGRP
Firms are reminded that, in accordance with MCOB 1.2.3 R, they should comply in full with MCOB, but in doing so may opt to take account of all tailored provisions in MCOB that relate to business loans or loans to high net worth mortgage customers. Therefore, a firm may only follow the tailored provisions in MCOB 5.7 in relation to one of these sectors if it also follows all other tailored provisions in MCOB that relate to that sector. In either case, the rest of MCOB applies in
MCOB 7.7.1AGRP
2Firms are reminded that in accordance with MCOB 1.2.3 R, they should comply in full with MCOB, but in doing so may opt to take account of3 all tailored provisions in MCOB that relate to business loans or loans to high net worth mortgage customers3. Therefore, a firm may only follow the tailored provisions in MCOB 7.73 in relation to one of these sectors3 if it also follows all other tailored provisions in MCOB that relate to that sector. In either case, the rest of MCOB applies
MCOB 6.7.1AGRP
1 Firms are reminded that in accordance with MCOB 1.2.3 R, they should comply in full with MCOB, but in doing so may opt to take account of2 all tailored provisions in MCOB that relate to business loans or loans to high net worth mortgage customers (as applicable)2. Therefore, a firm may only follow the tailored provisions in MCOB 6.72 in relation to one of these sectors2 if it also follows all other tailored provisions in MCOB that relate to that sector. In either case, the rest
MCOB 12.6.2GRP
1 Firms are also reminded that in accordance with MCOB 1.2.3 R, they should comply in full with MCOB, but in doing so may opt to take account of2 all tailored provisions in MCOB that relate to loans solely for a business purpose or loans to high net worth mortgage customers2. 222
MCOB 13.7.2GRP
1 Firms are reminded that in accordance with MCOB 1.2.3R, they should comply in full with MCOB, but in doing so may opt to take account of4 all tailored provisions in MCOB that relate to loans solely for a business purpose or loans to high net worth mortgage customers4. Therefore, a firm may only follow the relevant 4tailored provisions in MCOB 13.7, if it also follows all other relevant 4tailored provisions in MCOB. In either case, the rest of MCOB applies in full.4444
MCOB 4.9.1AGRP
1Firms are reminded that in accordance with MCOB 1.2.3 R and MCOB 1.2.3A R, they should comply in full with MCOB, but in doing so may opt to take account of all tailored provisions in MCOB that relate to business loans or loans to high net worth mortgages customers, as the case may be3. Therefore, a firm may only follow the tailored provisions in MCOB 4.9 in relation to one of these sectors if it also follows all other tailored provisions in MCOB that relate to that sector. In