Related provisions for MCOB 8.5A.14

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MCOB 6.1.2RRP

This table belongs to MCOB 6.1.1R

(1) Category of firm

(2) Applicable section

mortgage lender

whole chapter except MCOB 6.83

3home purchase provider

MCOB 6.1 (except MCOB 6.1.6 G), MCOB 6.2 and MCOB 6.8

reversion provider

see MCOB 9.5 for the application of this chapter

4SRB agreement provider

MCOB 6.1.1 R to MCOB 6.1.3 R, MCOB 6.1.5 R, MCOB 6.2, MCOB 6.3 and MCOB 6.9
MCOB 6.1.2ARRP
This chapter does not apply to a firm that is an MCD mortgage lender.
MCOB 12.1.5ARRP
5The rules in MCOB 12.4 (Payment shortfall charges: regulated mortgage contracts) and MCOB 12.5 (Excessive charges: regulated mortgage contracts, home reversion plans and regulated sale and rent back agreements) apply to:6(1) second charge regulated mortgage contracts entered into before 21 March 2016, in relation to charges imposed on a customer for events occurring on or after 21 March 2016; and6(2) regulated mortgage contracts which are legacy CCA mortgage contracts secured
MCOB 2.3.7RRP
(1) A mortgage lender,3reversion provider2 or SRB agreement provider3 must quantify, in cash terms, any material inducement it offers to a mortgage intermediary, reversion intermediary,2SRB intermediary3 or a third party. 3(2) In quantifying the value of the material inducement, the firm must include any subsequent payments (such as a trail fee) made where the customer continues with the samehome finance transaction.22
MCOB 2.3.8GRP
(1) Quantification of any material inducement offered by the mortgage lender or reversion provider2 supports the disclosure requirements elsewhere in MCOB. Further guidance on the disclosure of any inducement in cash terms is provided in MCOB 5.6.118 G for regulated mortgage contracts other than lifetime mortgages, MCOB 9.4.124 G for lifetime mortgages and MCOB 9.4.173 G for home reversion plans.2(1A) Quantification of any material inducement offered by a SRB agreement provider
PERG 2.7.19CGRP
15A credit agreement is an exempt agreement17 in the following cases:(1) if:42(a) by entering into the agreement as lender, a person is or was carrying on the regulated activity of entering into regulated mortgage contracts; or42(b) by entering into the agreement as home purchase provider, a person is or was carrying on a regulated activity of the kind specified by article 63F(1) of the Regulated Activities Order (entering into regulated home purchase plans); or42(c) by administering
PERG 2.7.19FGRP
15A credit agreement is an exempt agreement17 in the following cases:(1) if the credit agreement is a relevant credit agreement relating to the purchase of land and the lender is a local authority;(2) if the credit agreement is a relevant credit agreement relating to the purchase of land specified in CONC App 1.3 and the lender is a person or within a class of persons specified in CONC App 1.3;(3) if the credit agreement is secured by a legal or equitable mortgage on land, that
PERG 2.7.19GGRP
15A credit agreement is also an exempt agreement in the following cases:(1) if (subject to PERG 2.7.19H G):(a) the agreement is a borrower-lender-supplier agreement for fixed-sum credit;(b) the number of payments to be made by the borrower is not more than 1221;(c) those payments are required to be made within a period of 12 months or less (beginning on the date of the agreement); and(d) the credit is:(i) secured on land; or(ii) provided without interest or other charges;(2) if
MCOB 4.6A.1RRP
1A mortgage lender may not offer a regulated mortgage contract to a customer on the basis that fees or charges of any kind (receivable either by the mortgage lender or another party) are automatically added to the sum advanced.
MCOB 2A.6.1RRP
When an MCD mortgage lender or an MCD mortgage credit intermediary, provides information in compliance with the requirements in MCOB relating to an MCD regulated mortgage contract, it must provide that information free of charge.[Note: article 8 of the MCD]
MCOB 7A.1.1RRP
This chapter applies to a firm that is an MCD mortgage lender or an MCD mortgage administrator.
MCOB 11A.1.1RRP
An MCD mortgage credit intermediary must accurately submit any relevant information obtained from the consumer to the MCD mortgage lender to enable an assessment of affordability to be carried out.[Note: article 20(2) of the MCD]
MCOB 6A.1.1RRP
1This chapter applies to a firm that is an MCD mortgage lender.
DISP App 3.9.2GRP
In assessing redress, the firm should consider whether there are any other further losses that flow from its breach or failing that were reasonably foreseeable as a consequence of the firm's breach or failing, for example, where the payment protection contract's cost or rejected claims contributed to affordability issues for the associated loan or credit which led to arrears charges, default interest, penal interest rates or other penalties levied by the lender.
MCOB 5A.1.1RRP
This chapter applies to a firm that is an MCD mortgage lender or MCD mortgage credit intermediary.
MCOB 11A.2.1RRP
An MCD mortgage lender must not cancel, or vary the terms of, an MCD regulated mortgage contract to the detriment of the consumer on the grounds that the assessment of affordability was incorrectly conducted or the information provided by the consumer prior to the agreement of the MCD regulated mortgage contract was incomplete. However, this does not apply where the MCD mortgage lender can demonstrate that the consumer knowingly withheld or falsified information relevant to the
MCOB 5A.2.1RRP
An MCD mortgage lender must not enter into an MCD regulated mortgage contract, or agree to do so, with a consumer unless the consumer has submitted an application for that particular MCD regulated mortgage contract.
MCOB 2A.3.1RRP
Where an MCD regulated mortgage contract relates to a foreign currency loan, at the time the MCD regulated mortgage contract is entered into the MCD mortgage lender must ensure:(1) the consumer has a right to convert the MCD regulated mortgage contract into an alternative currency under specified conditions; or(2) there are other arrangements in place to limit the exchange rate risk to which the consumer is exposed under the MCD regulated mortgage contract.[Note: article 23(1)
MCOB 11.4.2RRP

This table belongs to MCOB 11.4.1 R

(1) Category of firm

(2) Applicable section

mortgage lender

Whole chapter

home purchase provider

Whole chapter except MCOB 11.6.1G (2), MCOB 11.6.5R (3) and (4), MCOB 11.6.18 R, MCOB 11.6.19 G, MCOB 11.6.20R (2) and MCOB 11.6.20R (9), MCOB 11.6.40 G to MCOB 11.6.59 G, MCOB 11.6.60R (2)(e), (3) and (4) and MCOB 11.7.3 R
MCOB 6A.5.1RRP
If a firm makes an offer to a consumer with a view to entering into or varying an MCD regulated mortgage contract which is a distance contract, it must provide the consumer with the following information with the offer document:(1) the EEA State or states whose laws are taken by the firm as a basis for the establishment of relations with the consumer prior to the conclusion of the MCD regulated mortgage contract;(2) any contractual clause on law applicable to the MCD regulated
MCOB 11.8.1ERP
Where a customer is unable to:(1) enter into a new regulated mortgage contract or home purchase plan or vary the terms of an existing regulated mortgage contract or home purchase plan with the existing mortgage lender or home purchase provider; or(2) enter into a new regulated mortgage contract or home purchase plan with a new mortgage lender or home purchase provider;the existing mortgage lender or home purchase provider should not (for example, by offering less favourable interest
FEES 5.9.3GRP
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