Related provisions for MCOB 13.3.4A

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MCOB 13.6.3RRP
A firm must ensure that, as soon as possible after the sale of a repossessed property, if the proceeds of sale are less than the amount due under the regulated mortgage contract or home purchase plan1, the customer is informed in a durable medium of:1(1) the sale shortfall; and(2) where relevant, the fact that the sale shortfall1may be pursued by another company (for example, a mortgage indemnity insurer).1
MCOB 13.6.4RRP
(1) If the decision is made to recover the sale shortfall,1 the firm must ensure that the customer is notified of this intention.1(2) The notification referred to in (1) must take place within five years of the date of the sale (if the regulated mortgage contract or home purchase plan1is subject to Scottish law) or within six years (in all other cases).