Related provisions for MCOB 5.5.1E
1 - 15 of 15 items.
(1) 3Whenever a firm provides a customer with information specific to the amount that the customer wants to borrow on a particular regulated mortgage contract following an assessment of the customer's needs and circumstances in order to comply with MCOB 4.7A.2 R, it must give, clearly and prominently, the following information:(a) the same information on the firm’s product range as is required by MCOB 4.4A.1R (1), MCOB 4.4A.2 R and MCOB 4.4A.4R (1); and(b) that the customer has
(1) 3Whenever, as part of an execution-only sale (or potential execution-only sale), a customer provides a firm with the information in MCOB 4.8A.14R (1), (2) or (3) the firm must inform the customer, clearly and prominently, that the customer has the right to request an illustration for any regulated mortgage contract which the firm is able to offer the customer.(2) Whenever, as part of an execution-only sale (or potential execution-only sale), a high net worth mortgage customer
The rules on the content of an illustration at MCOB 5.6 (Content of illustrations) mean that if the regulated mortgage contract requires the customer to take out a tied product, the illustration must include an accurate quotation or a reasonable estimate of the payments the customer would need to make for the tied product (see MCOB 5.6.52 R (2) where the tied product is a repayment strategy and MCOB 5.6.74 R where the tied product is insurance).3 If it is not possible to include
(1) The information about the basis of remuneration required by MCOB 4.4A.1R (2) must include all relevant information, including the following details:(a) any fees which the firm will charge to the customer;(b) when any such fees will be payable and, if applicable, reimbursable; and(c) whether the firm will receive commission from a third party and, if applicable, any arrangements for offsetting this against any fees charged.(2) The details in (1)(a) must be expressed, where