Related provisions for MCOB 4.1.5

21 - 40 of 118 items.

Search Term(s)

Filter by Topics

Filter by Modules

Filter by Documents

Filter by Keywords

Effective Period

Similar To

To access the FCA Handbook Archive choose a date between 1 January 2001 and 31 December 2004 (From field only).

CONC 11.1.2RRP
(1) For a credit agreement there is no right to cancel under CONC 11.1.1 R, unless (2) or (3) applies, in respect of:(a) a regulated consumer credit agreement (within the meaning of that section) to which section 66A (right to withdraw) of the CCA applies;(b) a credit agreement under which a lender provides credit to a consumer and where the consumer's obligation to repay is secured by a legal mortgage on land;(c) a credit agreement cancelled under regulation 15(1) of the Consumer
CONC 11.1.3GRP
Section 66A of the CCA (right to withdraw) does not apply to an agreement for credit exceeding £60,260 (unless the agreement is a residential renovation agreement)2, an agreement secured on land, a restricted-use credit agreement to finance the purchase of land or an agreement for a bridging loan in connection with the purchase of land. Section 67 of the CCA (cancellable agreements) applies to regulated credit agreements (apart from agreements secured on land, restricted-use credit
BIPRU 4.10.6RRP
(1) Residential real estate property which is or will be occupied or let by the owner or the beneficial owner in the case of personal investment companies and commercial real estate property, that is offices and other commercial premises, may be recognised as eligible collateral where the conditions set out in the remaining provisions of this paragraph are met.(2) The value of the property must not materially depend upon the credit quality of the obligor. This requirement does
BIPRU 4.10.9RRP
(1) The condition in BIPRU 4.10.6 R (3) does not apply for exposures secured by residential real estate property situated within the territory of another EEA State.(2) However (1) only applies if and to the extent that the CRD implementation measures for that EEA State in relation to the IRB approach implement the option set out in paragraph 16 of Part 1 of Annex VIII of the Banking Consolidation Directive (waiver for residential real estate property) with respect to residential
BIPRU 4.10.10RRP
(1) The condition in BIPRU 4.10.6 R (3) does not apply for commercial real estate property situated within the territory of another EEA State.(2) However (1) only applies if and to the extent that the CRD implementation measures for that EEA State in relation to the IRB approach implement the option set out in paragraph 17 of Part 1 of Annex VIII of the Banking Consolidation Directive (waiver for commercial real estate property) with respect to commercial real estate property
BIPRU 4.10.11RRP
A firm may also recognise as eligible collateral shares in Finnish residential housing companies operating in accordance with the Finnish Housing Company Act of 1991 or subsequent equivalent legislation in respect of residential property which is or will be occupied or let by the owner, as residential real estate collateral, provided that the conditions in BIPRU 4.10.6 R are met.[Note: BCD Annex VIII Part 1 point 14]
PERG 2.7.7CGRP
Further guidance on the arranging activities as they relate to home finance transactions and contracts of insurance is in PERG 4.5 (Arranging regulated mortgage contracts), PERG 14.3 and PERG 14.4 (Guidance on home reversion and home purchase activities)3 and PERG 5.6 (The regulated activities: arranging deals in, and making arrangements with a view to transactions in, contracts of insurance) respectively.3
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
PERG 2.7.19IGRP
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 provided that:42(a) the agreement is not an MCD regulated mortgage contract or an article 3(1)(b) credit agreement; or42(b) the agreement is an MCD regulated mortgage contract or an article 3(1)(b) credit agreement but:42(i) the agreement is of
CONC 4.4.4RRP
1CONC 4.4.3 R does not apply where:(1) the customer indicates to the firm that he wishes to enter into a credit agreement secured by a legal or equitable mortgage on land;(2) the firm makes it clear to the customer that it is willing to carry on credit broking for that customer only in relation to credit agreements secured by a legal or equitable mortgage on land; and(3) the firm does not indicate (by express words or otherwise) that it is willing to carry on credit broking for
CONC 4.4.5GRP
(1) 1CONC 4.4.3 R prohibits a firm from asking a customer for any payment details, including the card number and security code of a debit card or a credit card, or using those payment details, without first sending an information notice to the customer and receiving a customer confirmation. (2) CONC 4.4.3 R applies in respect of any sum due from a customer, however it is described and irrespective of whether it is payable to the firm or a third party (for example, a firm cannot
DISP App 1.6.8GRP
34The principles set out above (in DISP App 1.6.1 G to DISP App 1.6.7 G) should be applied directly to mortgage endowment complaints where the capital loss is calculated by comparing the surrender value of the endowment policy with the capital which would have been repaid using a repayment mortgage.
DISP App 1.6.9GRP
34In most cases where there is a loss, the endowment policy will be surrendered and put towards the cost of setting up a suitable repayment mortgage. Where this is the case, that part of the surrender value relating to the windfall augmentation should be paid as a cash lump sum to the investor or to the investor's order as part of the redress package. Only that part of the surrender value which does not relate to the windfall augmentation should be put towards the cost of setting
MCOB 8.3.1AGRP
3The rules and guidance that are not relevant to home reversion plans are those related, for example, to interest rates, APR, higher lending charge, mortgage credit cards, multi-part mortgages and foreign currency mortgages.
MCOB 8.3.2CGRP
4In the light of MCOB 8.3.2B R, a firm may wish to consider using a sentence appropriate to the circumstances, along the following lines: •“We offer a comprehensive range of equity release products from across the market.” •“We sell home reversion plans only and not lifetime mortgages, though we will consider all home reversion plans available in the market.”
FEES 6.7.6RRP
If a firm ceases to be a participant firm or carry out activities within one or more classes54 part way through a financial year4 of the compensation scheme:4(1) it will remain liable for any unpaid levies which the FSCS has already made on the firm; and41(2) the FSCS may make one or more levies4 upon it (which may be before or after the firm5 has ceased to be a participant firm or carry out activities within one or more classes5,4 but must be before it ceases to be an authorised
MIPRU 4.2A.10RRP
To calculate risk weighted exposure amounts on exposures secured by mortgages on residential property, risk weights must be applied to all such exposures, in accordance with MIPRU 4.2F.4 R to MIPRU 4.2F.10 G3.33
MIPRU 4.2A.10ARRP
3To calculate risk weighted exposure amount on exposures secured by mortgages on commercial property, risk weights must be applied to all such exposures in accordance with MIPRU 4.2F.37 R.
PERG 8.14.40ADGRP
6Article 72D exempts any financial promotion made by an employer to an employee in relation to a staff mortgage. This is subject to certain requirements as follows:(1) where the provider of the staff mortgage is an undertaking in the same group as the employer, the employer must not receive or have received, any direct financial benefit (including any commission, discount, remuneration or reduction in premium) as a result of making the communication; and(2) where the communication
PERG 8.14.40AEGRP
6Article 72E exempts any financial promotion made to an employee by or on behalf of a person (“A”) in relation to a staff mortgage. This is subject to certain requirements as follows:(1) the employer and A must have entered into a written contract specifying the terms on which the communication may be made;(2) in the case of a communication made by a person (“B”) on behalf of A, A and B must also have entered into a written contract specifying the terms on which the communication
PERG 8.14.40AFGRP
6The exemptions described in PERG 8.14.40A G to PERG 8.14.40AEA G9 should enable employers (and their contracted service providers) to promote employee benefits packages that include any pension schemes, work-related insurance schemes,9staff mortgages and certain staff loans9 to employees without undue concern that they may be breaching the restriction in section 21 of the Act. PERG 8.14.34 G (Communications by employers and contracted service providers to employees) has further
MCOB 13.8.2GRP
A firm may want to refer to the provisions on the information to be provided to a mortgage customer in relation to arrears for guidance (see MCOB 13.4 and MCOB 13.5).RepossessionsNote: The rules regarding repossessions apply (see MCOB 13.6).
MCOB 6A.1.2RRP
This chapter applies to an offer made by a firm to a consumer with a view to the firm:(1) entering into an MCD mortgage contract; (2) varying the terms of an MCD mortgage contract entered into by the consumer in any of the following ways:(a) adding or removing a party;(b) making a further advance; or(c) switching all or part of the MCD regulated mortgage contract from one interest rate to another;(whether or not the consumer agrees to enter into the MCD regulated mortgage contract
MCOB 13.4A.2RRP
Notices and other details under MCOB 13.4A.1 R are to be given to each person having a legal or equitable mortgage in the relevant property over which the firm has security under a regulated mortgage contract or a home purchase plan.
MCOB 10.2.1GRP
The purpose of this chapter is to establish the requirements for the proper calculation of the APR. As a cost measure which facilitates comparisons between similar mortgages offered on a similar basis, the APR is an integral element of the rules relating to financial promotions of qualifying credit1 and disclosure.1
MCOB 4.9.4GRP
(1) Firms are reminded that MCOB 1.2.7 R enables them to substitute an alternative for 'mortgage' in the initial disclosure in relation to a regulated mortgage contract for a business purpose or a high net worth mortgage customer4.2332322(2) [deleted]433232333(3) Where the initial disclosure in relation to a regulated mortgage contract for a business purpose or a high net worth mortgage customer3 makes reference to the permitted business of a firm, 4a firm can add text explaining
GEN 4.4.1RRP
(1) If, in any communication:(a) made to:222(i) 2(in relation to a non-investment insurance contract) aconsumer4;4(ii) 2(in relation to a home finance transaction) a customer; or(iii) 2(in all other cases) a retail client3; and3(b) in connection with a regulated activity carried on from an establishment of the firm (or its appointed representative) that is not in the United Kingdom;the firm indicates that it is an authorised person, it must also, where relevant, and with equal
CONC App 1.3.1RRP
(1) This section specifies:(a) the persons or classes of persons to whom the exemption in article 60E(2) of the Regulated Activities Order applies; and(b) the agreements or classes of agreement to which the exemption in article 60E(2) of the Regulated Activities Order applies. (1A) 2Paragraphs (2) to (5) do not apply where the applicable agreement is an MCD article 3(1)(b) credit agreement.(2) Where the lender is a body specified in CONC App 1.3.2 R or an authorised person with
CONC App 1.3.4RRP

BODIES CORPORATE NAMED OR SPECIFICALLY REFERRED TO IN AN ORDER MADE UNDER SECTION 156(4), 444(1) OR 447(2)(a) OF THE HOUSING ACT 1985

Abbey Life Executive Mortgages Limited

Abbey Life Funding Limited

Abbey Life Home Loans Limited

Abbey Life Home Services Limited

Abbey Life Mortgage Finance Limited

Abbey Life Mortgage Loans Limited

Abbey Life Mortgage Securities Limited

Abbey Life Residential Loans Limited

Albion Home Loans Limited

Alliance & Leicester Mortgage Loans Limited

Alliance & Leicester Mortgage Loans (No. 2) Limited

Alliance & Leicester Mortgage Loans (No. 3) Limited

Alliance & Leicester Mortgage Loans (No. 4) Limited

Bradford & Bingley Homeloans Limited

Bradford & Bingley Homeloans Management Limited

Bradford & Bingley Loans Limited

Bradford & Bingley Management Limited

Bradford & Bingley Mortgages Limited

Bradford & Bingley Mortgage Management Limited

Bradford & Bingley Secured Loans Limited

Bradford & Bingley Secured Loans Management Limited

Britannia Mortgage Company Number One Limited

Britannia Mortgage Company Number Two Limited

Chelsea Mortgage Services Limited

CIS Home Loans Limited

CIS Mortgage Finance Limited

CIS Mortgage Maker Limited

CIS Residential Mortgages Limited

CL Mortgages Limited

Darlington Mortgage Services Limited

Derbyshire Home Loans Limited

General Portfolio Finance Limited

Gracechurch Mortgage Finance (No. 2) PLC

Gracechurch Mortgage Finance (No. 3) PLC

Halifax Loans Limited

Halifax Loans (No. 2) Limited

Halifax Loans (No. 3) Limited

Halifax Loans (No. 4) Limited

HMC First Home National PLC

Home Loans Direct Limited

Home Loans Direct Funding PLC

Household Mortgage Corporation PLC

Ipswich Mortgage Services Limited

LBS Mortgages Limited

Leamington Mortgage Corporation Limited

Leeds & Holbeck Mortgage Corporation Limited

Leeds & Holbeck Mortgage Funding Limited

Legal and General Mortgage Services Limited

Lombard Home Loans Limited

London and Manchester (Mortgages) (No. 1) Limited

London and Manchester (Mortgages) (No. 2) Limited

London and Manchester (Mortgages) (No. 3) Limited

London and Manchester (Mortgages) (No. 4) Limited

London and Manchester (Mortgages) (No. 5) Limited

Market Harborough Mortgages Limited

The Mortgage Corporation Limited

The National Home Loans Corporation plc

National Mutual Home Loans plc

National Westminster Home Loans Limited

Newbury Mortgage Services Limited

Northern Rock Mortgage Services Limited

North Yorkshire Mortgages Limited

Norwich and Peterborough (LBS) Limited

Norwich Union Mortgage Finance Limited

Royal London Homebuy Limited

Saffron Walden Mortgage Services Limited

Secured Residential Funding PLC

Stroud and Swindon Mortgage Company Limited

Stroud and Swindon Mortgage Company (No. 2) Limited

Sun Life of Canada Home Loans Limited

Wesleyan Home Loans Limited

West Bromwich Mortgage Company Limited
RCB 2.3.8GRP
(1) The credit risk of an asset is the risk of loss if another party fails to perform its obligations or fails to perform them in a timely fashion.(2) Where, for example, the asset pool includes residential mortgages the relevant factors which the FCA may consider include: (a) whether the asset pool contains (or could contain) loans made to individuals who have been made bankrupt or have had court judgments made against them;(b) the extent to which the asset pool contains (or
RCB 2.3.18GRP
(1) The FCA expects the report from the accountants to address at least the following matters:(a) that the level of over collateralisation meets the limits set out in the covered bond arrangements which are designed to ensure compliance with the requirement that the asset pool is capable of covering claims attaching to the bond in Regulation 17 (requirements on issuer in relation to the asset pool) of the RCB Regulations; and(b) that appropriate due diligence procedures (which