Related provisions for MCOB 4.6.4
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A consumer2 has no right to cancel a home finance transaction1 concluded with a firm but may have a right to cancel a distance contract concluded with a mortgage intermediaryor a home purchase intermediary1for the provision of his services. Whether a mortgage intermediary or a home purchase intermediary1 concludes a distance mortgage mediation contract or a distance home purchase mediation contract1 with a consumer2 will depend on the circumstances. For example, an intermediary
A consumer2 who has a right to cancel a distance mortgage mediation contract or a distance home purchase mediation contract1 may, without giving any reason, cancel the contract by serving notice on the firm, before the expiry of the cancellation period in MCOB 4.6.4 R either:2(1) by serving on, or otherwise sending by post, notice to the firm's last known address, addressed to the firm, its appointed representative or on any agent of the firm with authority to accept notice on
(1) There are certain additional disclosure requirements laid down by the Distance Marketing Directive that will have to be provided by a mortgage intermediary and a home purchase intermediary4 to a consumer5 prior to the conclusion of a distance mortgage mediation contract or a distance home purchase mediation contract4. The purpose of this section, MCOB 4.5, is to set out those additional requirements. MCOB 4.6 sets out the cancellation rights that apply in relation to such
If the initial contact of a kind in MCOB 4.4.1 R (1) is with a consumer5 with a view to concluding a distance mortgage mediation contract or a distance home purchase mediation contract,4 a firm must:54(1) in addition to initial disclosure information and any other required information, provide the consumer5 with the information in MCOB 4 Annex 3 in a durable medium in good time before the conclusion of the distance mortgage mediation contractor distance home purchase mediation