Home FCA Handbook MCOB MCOB 5 MCOB 5.2 Purpose
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MCOB 5.2 Purpose

26/04/2014G
  1. (1)

    MCOB 5 amplifies Principle 6 and Principle 7.

  2. (2)

    The purpose of MCOB 5 is to ensure that, before a customer submits an application for a particular home finance transaction, he is supplied with information that makes clear:

    1. (a)

      (in relation to a regulated mortgage contract) its features, any linked deposits, any linked borrowing and any tied products; and

    2. (b)

      the price that the customer will be required to pay under that home finance transaction, to enable the customer to make a well-informed purchasing decision.

    3. (c)

      [deleted]

  3. (3)

    MCOB 5 requires information to be disclosed in a consistent way to facilitate comparison between products of different providers.