Home FCA Handbook MCOB MCOB 9 MCOB 9.1 Application
You are viewing MCOB 9.1 Application as of . MCOB 9.1 Application was last updated on 21/03/2016.

MCOB 9.1 Application

Who?

06/04/2007R

This chapter applies to a firm in a category listed in column (1) of the table in MCOB 9.1.2 R in accordance with column (2) of that table, except that those provisions that by their nature are only relevant to regulated mortgage contracts do not apply to home reversion plans.

This table belongs to MCOB 9.1.1 R

06/04/2007R
(1) Category of firm(2) Applicable section
mortgage lenderMCOB 9.1 - MCOB 9.4.132 R, MCOB 9.5 - MCOB 9.8
mortgage administrator

MCOB 9.1, MCOB 9.2, MCOB 9.6 and

MCOB 9.8

mortgage adviser; mortgage arrangerMCOB 9.1 - MCOB 9.4.132 R and MCOB 9.8.5 R - MCOB 9.8.10 R
reversion providerMCOB 9.1 - MCOB 9.4.17A R, MCOB 9.4.133 R -MCOB 9.6; MCOB 9.9
reversion administratorMCOB 9.1, MCOB 9.6 and MCOB 9.9
reversion adviser; reversion arrangerMCOB 9.1 - MCOB 9.4.17A R, MCOB 9.4.133 R - MCOB 9.4.176 G; MCOB 9.9.8 R
06/04/2007G

The 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.

What?

06/04/2007R

This chapter applies in the circumstances set out in other rules in this sourcebook, but in relation to an equity release transaction, in accordance with the table in MCOB 9.1.4 R.

This table belongs to MCOB 9.1.3 R

06/04/2007R
Section of MCOB 9Applies in relation to an equity release transaction as set out in the following rules:
MCOB 9.1, MCOB 9.2all of the rules below in this column
MCOB 9.3, MCOB 9.4MCOB 5.1.3 R
MCOB 9.5MCOB 6.1.3 R
MCOB 9.6MCOB 7.1.3 R
06/04/2007R

In this chapter, references to an equity release transaction include, where the context requires, references to arrangements which are capable of becoming an equity release transaction.

06/04/2007R

This chapter does not apply in relation to arranging, advising on or administering a home reversion plan for a customer acting in his capacity as an unauthorised reversion provider.

MCD application

21/03/2016G
  1. (1)

    This chapter does not apply to an MCD lifetime mortgage, except as set out in (2) to (3), below.

  2. (2)

    MCOB 9.4.33 R, MCOB 9.4.35 R, MCOB 9.4.62 R and MCOB 9.4.63 R apply to the extent specified by MCOB 5A.6.2 R.

  3. (3)

    MCOB 9.6 to MCOB 9.8 apply, except for rules that modify or replace MCOB 7.6.7R to MCOB 7.6.17R (because those rules do not apply to an MCD mortgage lender or an MCD mortgage credit intermediary, MCOB 7B applies instead: see MCOB 7.1.2AR and MCOB 7.1.2BG).