MCOB 6.1 Application

This chapter applies to a firm in a category listed in column (1) of the table in MCOB 6.1.2 R in accordance with column (2) of that table.

This chapter applies with respect to an offer made by a firm to a customer with a view to the firm:

1. (1)

   entering into a regulated mortgage contract; or

2. (2)

   varying the terms of a regulated mortgage contract entered into by the customer in any of the following ways:

   1. (a)

      adding or removing a party;

   2. (b)

      making a further advance; or

   3. (c)

      switching all or part of the regulated mortgage contract from one interest rate to another;1

(whether or not the customer agrees to enter into the regulated mortgage contract or variation).

In relation to a regulated lifetime mortgage contract, this chapter, MCOB 6, is modified by MCOB 9 (Lifetime mortgages: product disclosure).2

In MCOB 6, a reference to an offer to enter into a regulated mortgage contract is to be read as including a reference to an offer to vary an existing regulated mortgage contract in a manner specified in MCOB 6.1.3 R if the context so requires.