Related provisions for MCOB 8.5A.3
1 - 13 of 13 items.
As a minimum the illustration must be personalised to reflect the following:(1) the specific equity release transaction8 in which the customer is interested;8(2) the amount of the loan or equity8 required by the customer, or for drawdown mortgages and instalment reversion plans,8 the amount the customer wishes to draw down or to receive8 on a monthly (or such frequency that amounts are available) basis. Where the amount the customer can draw down is variable, the firm must agree
(1) MCOB 5.1 to MCOB 5.5 (with the modifications stated in MCOB 9.3.2 R to MCOB 9.3.12 R) apply to a firm where the home finance transaction is an equity release transaction, except that those provisions that by their nature are only relevant to regulated mortgage contracts do not apply to home reversion plans (see MCOB 9.1.2A G).33(2) The table in MCOB 9.3.2 R shows how the relevant rules and guidance in MCOB 5 must be modified by replacing the cross-references with the relevant
(1) 3(a) 3Subject to (c),4MCOB 4.1 to MCOB 4.6A4 (with the modifications stated in MCOB 8.3.2B R to4MCOB 8.3.4 R) apply to a firm where the home finance transaction is a lifetime mortgage.343(b) MCOB 4.1 to MCOB 4.4A4 (with the modifications stated inMCOB 8.3.2B R to4MCOB 8.3.4 R) apply to a firm where the home finance transaction is a home reversion plan, except for those provisions that by their nature are only relevant to regulated mortgage contracts.34(c) MCOB 4.6A applies