MCOB 6.1 Application

Subject to MCOB 6.1.2A R, this chapter applies to a firm in a category listed in column (1) of the table in MCOB 6.1.2 R in accordance with column (2) of that table.

This chapter does not apply to a firm that is an MCD mortgage lender.

This chapter applies with respect to an offer made by a firm to a customer with a view to the firm:

1. (1)

   entering into a home finance transaction;

2. (2)

   varying the terms of a home finance transaction entered into by the customer in any of the following ways:

   1. (a)

      adding or removing a party;

   2. (b)

      making a further advance; or

   3. (c)

      switching all or part of the regulated mortgage contract from one interest rate to another;

(whether or not the customer agrees to enter into the home finance transaction or variation).

In relation to a lifetime mortgage, this chapter, MCOB 6, is modified by MCOB 9 (Equity release: product disclosure).

In MCOB 6, a reference to an offer to enter into a home finance transaction is to be read as including a reference to an offer to vary an existing home finance transaction in a manner specified in this section if the context so requires.