Industry guidance on arrears and possessions to help firms comply with MCOB 13 and Treating Customers Fairly (TCF) principles
Last updated: 14 Oct 2011
This guidance is for: lenders
This guidance has been prepared by the CML in consultation with members to help firms in their interpretation of MCOB 13 and in meeting their obligations under treating customers fairly (TCF) principles.
The guidance applies to first charge mortgages regulated by the FSA. It does not apply to unregulated buy-to-let loans. The FSA has been consulted on both the original and most recent versions of this guidance and is aware of its contents. It has not at this stage been asked to confirm this as industry guidance.
The guidance has no regulatory status and some of the examples of good practice given may not be appropriate for all firms.