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  4. Point in time
    2017-09-22

COMP 5.6 1Protected mortgage business

COMP 5.6.1R

Protected mortgage business is:

  1. (1)

    advising on regulated mortgage contracts; or

  2. (2)

    arranging (bringing about) regulated mortgage contracts; or

  3. (3)

    making arrangements with a view to regulated mortgage contracts; or

  4. (4)

    agreeing to carry on a regulated activity in (1) to (3); or

  5. (5)

    the activities of a mortgage lender which would be arranging but for article 28A of the Regulated Activities Order (Arranging contracts to which the arranger is a party);

provided that the condition in COMP 5.6.2 R is satisfied.

COMP 5.6.2R

COMP 5.6.1 R applies only if the protected mortgage business was carried on by a relevant person:

  1. (1)

    with a customer who was a resident in the United Kingdom; or

  2. (2)

    from an establishment maintained by the relevant person (or its appointed representative) in the United Kingdom with a customer who was resident elsewhere in the EEA;

at the time the protected mortgage business was carried on.