MCOB 5.2 Purpose
- (1)
MCOB 5 amplifies Principle 6 and Principle 7.
1 - (2)
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
1 - (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
121 - (c)
[deleted]1
1
- (a)
- (3)
MCOB 5 requires information to be disclosed in a consistent way to facilitate comparison between products of different providers1.
1