Home FCA Handbook MCOB MCOB 9 MCOB 9.6 Disclosure at the start of the contract and after sale for equity release transactions
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MCOB 9.6 Disclosure at the start of the contract and after sale for equity release transactions

06/04/2007R
  1. (1)
    1. (a)

      MCOB 7.1 to MCOB 7.3, MCOB 7.5 and MCOB 7.6 (as modified by this section) apply to a firm where the home finance transaction is a lifetime mortgage.

    2. (b)

      MCOB 7.1 to MCOB 7.3 (as modified by this section) apply to a firm where the home finance transaction is a home reversion plan, except that those provisions that by their nature are only relevant to regulated mortgage contracts do not apply to home reversion plans (see MCOB 9.1.2A G).

  2. (2)

    The table in MCOB 9.6.2 R shows how the relevant rules and guidance in MCOB 7 must be modified by replacing the cross-references with the relevant cross-references to rules and guidance in MCOB 9.4 to MCOB 9.8.

  3. (3)

    The table in MCOB 9.6.3 R replaces certain rules and guidance in MCOB 7 with rules and guidance from MCOB 9.7 and MCOB 9.8.

  4. (4)

    The table in MCOB 9.6.4 R disapplies certain rules in MCOB 7 for the purposes of MCOB 9.

  5. (5)

    The terms and expressions in MCOB 7 that by their nature are only connected to regulated mortgage contracts must be replaced with the appropriate equivalent terms and expressions for home reversion plans (see MCOB 9.3.1A G).

Table of modified cross-references to other rules:

31/10/2004R

This table belongs to MCOB 9.6.1R.

SubjectRule or guidanceReference in rule or guidanceTo be read as a reference to:
ApplicationMCOB 7.1.4RMCOB 7.6.7R - MCOB 7.7.4RMCOB 7.6.7R - MCOB 7.6.33G as modified by MCOB 9.8.5R - 9.8.9R
ApplicationMCOB 7.1.5RMCOB 7.5 - MCOB 7.7.4RMCOB 7.5 -MCOB 7.6.33G as modified by MCOB 9.8
Information in more than one documentMCOB 7.3.3RMCOB 7MCOB 7 as modified by MCOB 9
Frequency of statementsMCOB 7.5.6GMCOB 7.5.3R(2)MCOB 9.8.1R(2)
Annual statement - additional contentMCOB 7.5.9GMCOB 7.5.3R(2)(b)MCOB 9.8.1R
Further advancesMCOB 7.6.7RMCOB 5MCOB 9.4
Further advancesMCOB 7.6.10GMCOB 7.6.9R(10MCOB 9.8.5R(1)
Further advancesMCOB 7.6.10GMCOB 5.6.34MCOB 9.4.114R
Further advancesMCOB 7.6.11GMCOB 7.6.9R(3) and (4)MCOB 9.8.5R(3)
Further advancesMCOB 7.6.11G(2)MCOB 5.6.40RMCOB 9.4.37R
Further advancesMCOB 7.6.12GMCOB 7.6.9R(3)MCOB 9.8.5R(3)
Further advancesMCOB 7.6.13RMCOB 5.6.25R(2)(a)MCOB 9.4.24R(4)(a)
Further advancesMCOB 7.6.13RMCOB 7.6.9R(3)(b)MCOB 9.8.5R(3)(b)
Further advancesMCOB 7.6.14RMCOB 5MCOB 9
Rate switchesMCOB 7.6.20RMCOB 5MCOB 9
Rate switchesMCOB 7.6.20RMCOB 5MCOB 9
Addition or removal of party to contractMCOB 7.6.22RMCOB 5MCOB 9
Addition or removal of party to contractMCOB 7.6.25RMCOB 5MCOB 9
Changes to paymentsMCOB 7.6.29RMCOB 7.6.28RMCOB 9.8.9R or MCOB 9.8.10R
Changes to paymentsMCOB 7.6.30RMCOB 7.6.28RMCOB 9.8.9R or MCOB 9.8.10R
Use of illustrationsMCOB 7.6.31RMCOB 7.6.28RMCOB 9.8.9R or MCOB 9.8.10R
Use of illustrationsMCOB 7.6.31RMCOB 5MCOB 9
Use of illustrationsMCOB 7.6.32RMCOB 7.6.28RMCOB 9.8.9R or MCOB 9.8.10R
Use of illustrationsMCOB 7.6.32RMCOB 7.6.18R and MCOB 7.6.22RMCOB 7.6.18R and MCOB 7.6.22R as modified by MCOB 9
Simultaneous requestsMCOB 7.6.33GMCOB 7.6.18R and MCOB 7.6.22RMCOB 7.6.18R and MCOB 7.6.22R as modified by MCOB 9
Simultaneous requestsMCOB 7.6.33GMCOB 5MCOB 9

Table of rules in MCOB 7 replaced by rules in this chapter:

31/10/2004R

This table belongs to MCOB 9.6.1R.

SubjectRule or guidanceRule replaced by:
Information at start of contractMCOB 7.4MCOB 9.7
Content of statementMCOB 5.3RMCOB 9.8.1R
Frequency of statementsMCOB 7.5.5RMCOB 9.8.2R
Event-driven informationMCOB 7.6.1RMCOB 9.8.3R
Release of additional borrowingMCOB 7.6.6GMCOB 9.8.4G
Further advancesMCOB 7.6.9RMCOB 9.8.5G
Further advancesMCOB 7.6.16RMCOB 9.8.7R
Addition or removal of party to contractMCOB 7.6.27RMCOB 9.8.8R
Changes to paymentsMCOB 7.6.28RMCOB 9.8.9R and MCOB 9.8

Table of rules in MCOB 7 which do not apply in relation to lifetime mortgage:

06/04/2007R

This table belongs to MCOB 9.6.1R.

SubjectRule
Annual statements: contentMCOB 7.5.4R
Business loansMCOB 7.7