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  1. Point in time
    2013-12-30

MCOB 8.7 1Initial disclosure information: unauthorised reversion provider

MCOB 8.7.1RRP

1A firm must ensure that, on first making contact with a customer who is an individual and an unauthorised reversion provider, when it anticipates giving personalised information or advice on a home reversion plan, it must provide the customer with the following warnings in a durable medium:

  1. (1)

    that a home reversion plan is a long-term investment; and

  2. (2)

    that a home reversion plan is a complex legal arrangement, and that expert independent legal advice should be obtained before entering into any agreement.