Related provisions for MCOB 10A.1.2

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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.4.8GRP
The effect of MCOB 5A.4.1R (1) and MCOB 5A.4.7 R is that a consumer will be deemed to be committed to an application if, for example, they pay a product-related fee (including a valuation fee) or provides electronic or verbal authority to process an application. It is not necessary for a consumer to provide an MCD mortgage lender with a completed application form to submit an application for an MCD regulated mortgage contract.
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 6A.3.9RRP
A firm must ensure that the offer document contains a prominent statement explaining:(1) the period for which the offer is valid;(2) where the MCD regulated mortgage contract contains features, such as additional unsecured borrowing facilities, which could result in the consumer borrowing more money that, where such features are used, the amount of the consumer's debt will increase;(3) when any interest rate change on the MCD regulated mortgage contract takes effect. This statement
MCOB 6A.3.17RRP
If the firm knows, at the point that the offer is made to the consumer, that its interest in the MCD regulated mortgage contract will be assigned (by sale or transfer) and the firm will no longer be responsible for setting interest rates and charges, the offer document must:(1) state this; and(2) state, where known, who will be responsible for setting interest rates and charges after the sale or transfer.
MCOB 10A.1.6RRP
If an MCD regulated mortgage contract:(1) allows for variations in the borrowing rate; and(2) it does not fall within MCOB 10A.1.5 R,the ESIS must contain an additional APRC which illustrates the possible risks linked to a significant increase in the borrowing rate. Where the borrowing rate is not capped, this information must be accompanied by a warning highlighting that the total cost of the credit to the consumer, shown by the APRC, may change.[Note: article 17(6) of the M
MCOB 6A.4.1RRP
If a firm makes an offer to a consumer with a view to entering into or varying an MCD regulated mortgage contract, it must provide the consumer, along with the offer document, with a tariff of charges that could be incurred on the regulated mortgage contract.
MCOB 4A.1.6RRP
An MCD mortgage credit intermediary (unless it is also acting as an MCD mortgage lender3 and carrying out a3 direct sale of the proposed regulated mortgage contract3) must inform the MCD mortgage lender of any fee payable by the consumer to the MCD mortgage credit intermediary for its services, for the purpose of calculating the APRC.[Note: article 15(4) of the MCD]
MCOB 5A.2.2GRP
(1) The purpose of MCOB 5A.2.1 R, along with other rules in this chapter, is to ensure that the consumer has received details of the particular MCD regulated mortgage contract for which they have applied, and has had the opportunity to satisfy themselves that it is appropriate for them. (2) The application should identify the type of interest rate, rate of interest and the MCD mortgage lender at the point it is submitted by the consumer.
MCOB 2A.4.1RRP
(1) An MCD mortgage lender must give a consumer who enters into an MCD regulated mortgage contract the right to discharge fully or partially his obligations under that MCD regulated mortgage contract prior to its expiry.(2) If the consumer exercises the right in (1), the MCD mortgage lender must reduce the total cost of the credit to the consumer by an amount equal to the interest and costs for the remaining duration of the MCD regulated mortgage contract.[Note: article 25(1)
MCOB 7.7.1RRP
(1) Where, in relation to a regulated mortgage contract for a business purpose or a high net worth mortgage customer3 who is not a consumer under an MCD regulated mortgage contract4, a customer either:(a) seeks an immediate increase in the borrowing provided under the regulated mortgage contract; or(b) overdraws on the borrowing under the regulated mortgage contract;the further advance rules in MCOB 7.6.7 R to MCOB 7.6.17 R do not apply.(2) Where (1) applies, the firm must within
MCOB 3B.1.2RRP
A firm must make available clear and comprehensible information about MCD regulated mortgage contracts at all times on paper, or on another durable medium or in electronic form, that includes:(1) the identity and the geographical address of the firm;(2) the purposes for which the credit may be used;(3) the forms of security, including, where applicable, the possibility for it to be located in a different EEA State;(4) the possible duration of the MCD regulated mortgage contracts;(5)
MCOB 10A.3.1RRP
(1) If an MCD regulated mortgage contract gives the consumerfreedom of drawdown, the total amount of credit must be deemed to be drawn down immediately and in full.(2) If an MCD regulated mortgage contract provides different ways of drawdown with different charges or borrowing rates, the total amount of credit must be deemed to be drawn down at the highest charge and borrowing rate applied to the most common drawdown mechanism for that type of MCD regulated mortgage contract.(3)
MCOB 12.6.1GRP
Firms are reminded that, in relation to a regulated mortgage contract which is solely 2for a business purpose or is with a high net worth mortgage customer2, who is not a consumer under an MCD regulated mortgage contract,3 in circumstances where MCOB 7.7.1 R applies, if there is a new early repayment charge or a change to the existing early repayment charge, MCOB 7.7.1 R(2) requires a firm to notify the customer within five business days of the maximum amount payable as an early
MCOB 3A.5.1RRP
(1) 1When communicating or approving a financial promotion concerning an MCD regulated mortgage contract which indicates an interest rate or any figures relating to the cost of the credit to the consumer, a firm must ensure that the financial promotion includes standard information which specifies in a clear, concise and prominent way:(a) the identity of the MCD creditor or, where applicable, the MCD mortgage credit intermediary2 or appointed representative;(b) where applicable,