Related provisions for MCOB 5.6.108
1 - 20 of 22 items.
Where all or part of the regulated mortgage contract to which the illustration relates is an interest-only mortgage:(1) the illustration must include the sub-heading 'Cost of repaying the capital' with the following text under it:'You will still owe [insert amount of loan on an interest-only basis] at the end of the mortgage term. You will need to make separate arrangements to repay this. When comparing the payments on this mortgage with a repayment mortgage, remember to add any
Unless all of the interest rates described in MCOB 5.6.54 R(5) apply for the term of the loan part to which they apply, then an additional section numbered as 6a and titled 'What you will need to pay in future' must be included to indicate the future stepped payments (if MCOB 5.6.51 R also applies then the section on deferred interest must be numbered 6b). This section must:(1) state when a change in payment will occur;(2) state the reason for the change in payment; and(3) confirm
The relevant sub-headings are as follows:(1) 'Underpayments';(2) 'Payment holidays';(3) 'Borrow back';(4) 'Incentives';(5) 'Additional borrowing available without further approval';(6) 'Additional secured borrowing';(7) 'Credit card';(8) 'Unsecured borrowing';(9) 'Linked current account'; and(10) 'Linked savings account'.
The population of exposures represented in the data used for estimation, the lending standards used when the data was generated and other relevant characteristics must be comparable with those of a firm'sexposures and standards. A firm must also be able to demonstrate to the appropriate regulator that the economic or market conditions that underlie the data are relevant to current and foreseeable conditions. The number of exposures in the sample and the data period used for quantification
In forming a view on whether the management information system is sufficiently comprehensive, the committee of management should consider whether, where relevant, the substance of reports provides a clear statement of:(1) the capital position;(2) the liquidity position;(3) profits and losses, assets and liabilities, and flow of funds;(4) loans, arrears, and provisions.
A firm is likely to have reasonable grounds to suspect a customer may have some form of mental capacity limitation if the firm observes a specific indication (behavioural or otherwise) that could be indicative of some form of limitation of the customer's mental capacity. Examples (amongst others) of indications might include: (1) where a firm has an existing relationship with a customer, the customer making a decision that appears to the firm to be unexpected or out of character;
15A credit agreement is also an exempt agreement17 in the following cases:(1) if it is a borrower-lender agreement, the lender is a credit union and the rate of the total charge for credit (see CONC App 1) does not exceed 42.6 per cent;(2) if (subject to (5) and (6)): (a) it is a borrower-lender agreement; (b) it is offered to a particular class of individual and not offered to the public generally;(c) it provides that the only charge included in the total charge for credit (see