Regulations & laws

Financial Conduct Authority (FCA): Mortgages and Home Finance: Conduct of Business Sourcebook (MCOB): Sch 1

The FCA’s Mortgages and Home Finance: Conduct of Business Sourcebook (MCOB) applies to firms that carry out lending and selling of a range of home finance products including mortgages, home purchase plans, home reversion plans, lifetime mortgages and sale and rent back agreements. There are record keeping requirements for these firms throughout MCOB. They include evidence of high net worth of customers, and categorisation of customers and loans, information obtained and explanations given in respect of suitability and affordability assessments, warnings and information when contracts are taken out as execution-only, customer documents such as illustrations, offer documents and other disclosure documents, copies of tariff details and steps taken to comply with requirements on responsible lending.

 

 

LS Consultancy assumes no liability for the accuracy or completeness of this information. Please refer to the applicable regulators website for specific information on specific rules and regulations and how they apply to your business.

 

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Regulations & laws

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