MCOB - APRC, Shortfalls and Charges
The Mortgage Conduct of Business (MCOB) for the Annual Percentage Rate of Charge (APRC), shortfalls, and charges apply to home finance businesses.The APRC is used to compare loans, and the UK mortgage regulations require its disclosure in all financial promotions. In the interest of fair customer treatment, disclosure rules also state that charges are transparent.
Our MCOB for APRC, Shortfalls & Charges Course explains the FCA's business rules for calculating the APRC and charges as well as dealing with shortfalls.
- 30 Minutes
- All staff
- Based on UK legislation, but suitable for global audiences upon the removal of UK-specific references and translation as necessary.

Learning objectives
- Understand what APRC and total charge for credit are, and how they are calculated
- Recognise the assumptions made when calculating APRC and total charge for credit
- Know what you have to do to ensure that our customers are treated fairly
- Recognise the different types of charges
- Recognise good and poor practice in respect of payment and sale shortfalls
What can you expect your employees to learn?
Welcome
What is MCOB - APRC, Shortfalls & Charges?
Introduction
Assumptions involved in calculating APRC
Total charge for credit
- Total charge for credit exclusions
- Exercise: Total charge for credit
Charges
- Exercise: Charges
Dealing with payment shortfall charges
- Calculating costs: What is and is not acceptable?
- Exercise: Good or poor practice?
- Safeguarding against excessive charges
- Exercise: Averaging fees
- Charging for payment shortfalls
- Going the extra mile
- Exercise: Dealing with payment shortfalls
- Exercise: Dealing with payment shortfalls -2
- Exercise: Dealing with payment shortfalls - 3
- Exercise: Dealing with payment shortfalls -4
- Providing information to customers with payment shortfalls
- Exercise: Providing information to business customers
Repossessions
- Sales shortfalls
Record keeping
- Exercise: The contents of records
Summary
Affirmation
Assessment
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Your questions, answered
Financial Crime
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