From 1st July the Council of Mortgage Lenders is integrated into a new trade association, UK Finance. For the time being, all UKF mortgage information will continue to be published on this website, and UKF member-only mortgage information will only be available here.

UK Finance represents around 300 firms in the UK providing credit, banking, markets and payment-related services. The new organisation takes on most of the activities previously carried out by the Asset Based Finance Association, the British Bankers’ Association, the Council of Mortgage Lenders, Financial Fraud Action UK, Payments UK and the UK Cards Association. Please go to www.ukfinance.org.uk for wider content and updates from UK Finance.

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  5. Industry guidance on arrears and possessions to help firms comply with MCOB 13 and Treating Customers Fairly (TCF) principles

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.