MCOB 6.1 Application

Subject to MCOB 6.1.2A R, this 5 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 does not apply to a firm that is an MCD mortgage lender.

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 home finance transaction;3

   3
2. (2)

   varying the terms of a home finance transaction3 entered into by the customer in any of the following ways:

   3
   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 home finance transaction3 or variation).

In relation to a lifetime mortgage3, this chapter, MCOB 6, is modified by MCOB 9 (Equity release3: product disclosure).2

In MCOB 6, a reference to an offer to enter into a home finance transaction3 is to be read as including a reference to an offer to vary an existing home finance transaction3 in a manner specified in 3this section3 if the context so requires.