Related provisions for MCOB 13.4.2
1 - 4 of 4 items.
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)
(1) A firm may provide the information in MCOB 13.4.1 R (2), (3), (4), (5) and (6) orally, for example by telephone, but must provide the information in a durable medium with a copy of the MoneyHelper5 information sheet “Problems3 paying your mortgage” 23within 15 business days of becoming aware of the customer's account falling into arrears.233(2) Where a firm provides the information in MCOB 13.4.1 R when a payment shortfall4 occurs but before the customer's account falls into
Where the regulated mortgage contract is for a business purpose or is with a high net worth mortgage customer4, a firm may as an alternative to MCOB 13.4.1 R(1) provide the following information in a durable medium instead of the MoneyHelper5 information sheet “Problems3 paying your mortgage”:2333(1) details of the consequences if the payment shortfall4 is not cleared;4(2) a description of the options available to the customer for clearing the payment shortfall4; and4(3) (in the
The following text must be included at the end of Section 7 'Are you comfortable with the risks?': ‘The MoneyHelper13 information sheet "You can afford your mortgage now, but what if...?" will help you consider the risks. You can get a free copy from https://www.moneyhelper.org.uk13,8612or by calling 0800 138 7777.’78866
The following text must be included at the end of Section 7 'Are you comfortable with the risks?': ‘The MoneyHelper13 information sheet "You can afford your mortgage now, but what if...?" will help you consider the risks. You can get a free copy from https://www.moneyhelper.org.uk8 or by calling 0800 138 7777.'761288686
(1) 3If a customer is in or approaching arrears or in default12, the firm should, where appropriate:(a) inform the customer that free and impartial money guidance and12 debt advice is available from not-for-profit debt advice bodies and can be accessed through a range of delivery channels, including digital tools;12(aa) effectively communicate to the customer the potential benefits of accessing money guidance or free and impartial debt advice from not-for-profit debt advice bodies;