MCOB 6.2 Purpose

(1)

MCOB 6 contains rules and guidance that apply in addition to firms’ obligations under Principle 6, Principle 7 and the Consumer Duty (as appliable). The purpose of MCOB 6 is to ensure that a customer receives a clear offer document to enable them to check the features and price of the home finance transaction before they enter into it. The offer document should include an updated and suitably adapted illustration (for a regulated mortgage contract) or financial information statement (for a home purchase plan) so that the customer can compare it with the one they received before they applied for the home finance transaction.