MCOB 5.2 Purpose

MCOB 5 amplifies Principle 6 and Principle 7.

The purpose of MCOB 5 is to ensure that, before a customer submits an application for a particular home finance transaction1, he is supplied with information that makes clear:

1. (a)

   (in relation to a regulated mortgage contract) its features, any linked deposits, any linked borrowing and any tied products; and1

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2. (b)

   the price that the customer will be required to pay under that home finance transaction, 1to enable the customer to make a well-informed purchasing decision.2

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3. (c)

   [deleted]1

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MCOB 5 requires information to be disclosed in a consistent way to facilitate comparison between products of different providers1.