Related provisions for MCOB 5.5.3

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MCOB 1.2.21GRP
(1) 10By virtue of amendments to articles 60B, 60C and 61 of the Regulated Activities Order which came into force on 21 March 2016, certain regulated credit agreements became regulated mortgage contracts (but see the transitional provisions described in (3) below). The provisions of MCOB that apply to these regulated mortgage contracts include:(a) MCOB 7 (Disclosure at start of contract and after sale);(b) MCOB 12 (Charges); and(c) MCOB 13 (Payment difficulties17 and repossessions:
MCOB 13.6.6RRP
A firm must ensure that, on the sale of a repossessed property, if the proceeds of sale are more than the amount due under the regulated mortgage contract or home purchase plan1, reasonable steps are taken, as soon as possible after the sale, to inform the customer in a durable medium of the surplus and, subject to the rights of any subsequent mortgage or charge holders, to pay it to him.1
FEES 4.4.9DRP
3To the extent that a firm4 has provided the information required by FEES 4.4.7 D to the FCA as part of its compliance with another provision of the Handbook, it is deemed to have complied with the provisions of that direction.444
MCOB 13.4.1RRP
If a customer falls into arrears on a regulated mortgage contract, a firm must as soon as possible, and in any event within 15 business days of becoming aware of that fact, provide the customer with the following in a durable medium:(1) the current MoneyHelper5 information sheet “Problems paying your mortgage”;33(2) a list of the due payments either missed or only paid in part;(3) the total sum of the payment shortfall4;4(4) the charges incurred as a result of the payment shortfall4;4(5)
MCOB 4.11.10GRP
The effect of MCOB 4.11.9R is that a SRB agreement provider is expected to advise2 in relation to a particular regulated sale and rent back agreement, unless it is reasonable for it to rely on another firm with permission to advise on regulated sale and rent back agreements,2 to have done so in relation to a particular transaction.2
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 12.6.1GRP
Firms are reminded that, in relation to a regulated mortgage contract which is solely 2for a business purpose or is with a high net worth mortgage customer2, who is not a consumer under an MCD regulated mortgage contract,3 in circumstances where MCOB 7.7.1 R applies, if there is a new early repayment charge or a change to the existing early repayment charge, MCOB 7.7.1 R(2) requires a firm to notify the customer within five business days of the maximum amount payable as an early
MCOB 8.2.2GRP
(1) 2This chapter amplifies Principle 6 (Customers' interests), Principle 7 (Communications with clients) and Principle 9 (Customers: relationships of trust). (2) The purpose of this chapter is to ensure that: (a) customers are adequately informed about the nature of the service they may receive from a firm in relation to equity release transactions. In particular firms need to make clear to customers the range of equity release transactions available from them and the basis of