Related provisions for MCOB 12.3.2
Description of interest rate types and rates of interest. This table belongs to MCOB 9.4.26R:
Description of the interest rate 
Amount payable in each instalment (if applicable) 
Lender's base mortgage rate  must be described as the [Lender]'s standard variable rate, currently X%, [where applicable insert the date at which the interest rate ends or period for which the interest rate applies]. 
Amount based on X%. 
Fixed rate  must be described as fixed rate of X% [where applicable insert the date at which the interest rate ends or the period for which the interest rate applies]. 
Amount based on the fixed rate of X%. 
Discounted rate  must be described as a variable rate, currently X%, with a discount of Y% [where applicable insert the date at which the discount ends or the period for which the discount applies], giving a current rate payable of Z%. 
Amount based on Z%. 
Capped rate  must be described as a variable rate, currently X%, which will not go above a ceiling of Y% [where applicable insert the date at which the capped interest rate ends or the period for which the capped interest rate applies]. 
Amount based on the current interest rate payable (X%). 
Capped and collared  must be described as a variable rate, currently X%, which will not go below a floor of Y% or above a ceiling of Z% [where applicable insert the date at which the capped and collared interest rate ends or the period for which the capped and collared interest rate applies]. 
Amount based on the current interest rate payable (X%). 
Tracker rate  must be described as a variable rate which is [X% above/X% below/the same as] [insert interest rate tracked, currently Z%], [where applicable insert the date at which the interest rate ends or the period for which the interest rate applies], to give a current rate payable of Y%. Details should also be provided of how soon after an interest rate change the mortgage interest rate is adjusted. 
Amount based on Y%. 
Deferred rate  must be described as a variable rate, currently X%, where Y% is not paid now but is added to your mortgage [where applicable insert the date at which the deferred interest rate ends or the period for which the deferred interest rate applies], to give a current rate payable of Z%. 
Amount based on Z%. 
Stepped rate where different interest rates apply over different time periods (for example, fixed interest rate in year 1 changes in year 2). Each element should be dealt with individually as above. 
Amount for each of the 'steps'. 
Combinations of the above must be treated in the same way as the descriptions above, (for example, if a discounted interest rate has a 'floor' then it must be described as such). 
Follow the above treatment depending on the combination. 
Description of interest rate types and rates of interest. This table belongs to MCOB 5.6.26R:
Description of the interest rate 
Amount payable in each instalment 
Lender's base mortgage rate  must be described as the [Lender]'s standard variable rate, currently X%, [where applicable insert the date at which the interest rate ends or period for which the interest rate applies]. 
Amount based on X%. 
Fixed rate  must be described as a fixed rate of X% [where applicable insert the date at which the interest rate ends or the period for which the interest rate applies]. 
Amount based on the fixed rate of X%. 
Discounted rate  must be described as a variable rate, currently X%, with a discount of Y% [where applicable insert the date at which the discount ends or the period for which the discount applies], giving a current rate payable of Z%. 
Amount based on Z%. 
Capped rate  must be described as a variable rate, currently X%, which will not go above a ceiling of Y% [where applicable insert the date at which the capped interest rate ends or the period for which the capped interest rate applies]. 
Amount based on the current interest rate payable (X%). 
Capped and collared  must be described as a variable rate, currently X%, which will not go below a floor of Y%, or above a ceiling of Z% [where applicable insert the date at which the capped and collared interest rate ends or the period for which the capped and collared interest rate applies]. 
Amount based on the current interest rate payable (X%). 
Tracker rate  must be described as a variable rate which is [X% above/X% below/the same as] [insert interest rate tracked, currently Z%,] [where applicable insert the date at which the rate ends or the period for which the interest rate applies], to give a current rate payable of Y%. Details should also be provided of how soon after an interest rate change the mortgage interest rate is adjusted. 
Amount based on Y%. 
Deferred rate  must be described as a variable rate, currently X%, where Y% is not paid now but is added to your mortgage [where applicable insert the date at which the deferred interest rate ends or the period for which the deferred interest rate applies], to give a current rate payable of Z%. 
Amount based on Z%. 
Stepped rate where different interest rates apply over different time periods (for example, fixed interest rate in year 1 changes in year 2). Each element should be dealt with individually as above. 
Amount for each of the 'steps'. 
Combinations of the above must be treated in the same way as the descriptions above, (for example, if a discounted interest rate has a 'floor' then it must be described as such). 
Follow the above treatment depending on the combination. 
An example of how the information required by MCOB 5.6.52 R (1), MCOB 5.6.52 R (3) and MCOB 5.6.52 R (5) may be presented is as follows:
Cost of repaying the capitalYou will still owe £Z at the end of the mortgage term. You will need to make separate arrangements to repay this. When comparing the payments on this mortgage with a repayment mortgage, remember to add any money that you may need to pay into a separate savings plan to build up a lump sum to repay this amount. 

Savings plan that you do not have to take out through [insert name of mortgage lender or mortgage intermediary] 
Monthly payments 
XYZ savings plan (see separate product disclosure document) 
£C 
What you will need to pay each month including the cost of a savings plan to repay the capital 

36 payments at a fixed rate currently x% followed by: 
£(A+C) 
264 payments at a variable rate currently y%. 
£(B+C) 