Reset to Today

To access the FCA Handbook Archive choose a date between 1 January 2001 and 31 December 2004.

Content Options:

Add to favourites

View Options:

More Resources:

External link Handbook Publications

Alternative versions

  2. Point in time
    2011-04-01

MCOB 11.2 Purpose

MCOB 11.2.1G

This chapter reinforces Principle 6 by requiring a firm to take account of a customer's ability to repay before deciding to enter into, or make a further advance on, a regulated mortgage contract or home purchase plan.1 The FSAregards it as important that customers should not be exploited by firms that lend in circumstances where they are self-evidently unable to repay through income and yet have no alternative means of repayment.

1