MCOB - General Standards Course

The Mortgage Conduct of Business (MCOB) for General Standards applies to all firms that deal with home finance. Namely, lenders, administrators, advisors, arrangers and those that communicate or approve financial promotions.

Home finance encompasses regulated mortgage contracts, equity release transactions, home purchase plans and sale and rent back agreements.

Our MCOB for General Standards Course explains the FCA's general conduct of business rules that apply to the home finance business.

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MCOB - General Standards

About this Course

Available as part of our FCA Compliance Library.

Learning Objectives

This course will prepare your employees to:

  • Recognise what MCOB is and whom it applies to
  • Identify and apply the general standards for mortgage businesses
  • Understand the requirements for responsible lending

Course outline

Welcome

What are MCOB - General Standards?

What is MCOB?

Regulated mortgage contracts

- Exercise: Regulated mortgages
- Other home finance products
- Exercise: Purchase versus equity release
- Exercise: Home finance products
- Exercise: Vulnerable customers

Scope

- Exercise: Scope

Acting in the best interests of customers

Communications

Inducements

- Exercise: Inducements

High-pressure sales

- Exercise: High-pressure sales

Protecting customers' interests

- Protecting customers' interests
- Unsolicited services

Responsible lending

- Assessing affordability
- Exercise: Types of expenditure
- Exercise: Assessing affordability

Record keeping

- Exercise: Readily accessible
- Exercise: Record keeping

Other standards

- Reliance on others
- Exclusion of liability
- Use of electronic media
- Distance contracts

Customer scenario

- Customer scenario 2
- Customer scenario 3
- Customer scenario 4

Summary

Affirmation

Assessment

FCA Courses Library

Our FCA Course library of over 60 training modules covers everything from high-level and conduct of business standards to thematic topics, including treating customers fairly.

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FCA Courses Library

Course Specifications

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Structure

Approximately 40-minute long e-learning course followed by a 10-question assessment.

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Audience

Suitable for all staff - examples and interactivities designed for staff at all levels. No previous knowledge or experience is required.

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Design

SHARD-compliant, responsive display on all devices, accessibility on screen readers, visual design controlled via a client style sheet.

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Test-Out

Ability to offer optional test-out, whereby users can choose to skip the course content and complete the learning assignment simply bypassing the assessment.

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Compatibility

All Windows, Mac OSX, iOS, Android (Flash-free for mobile compatibility). AICC and SCORM 1.2-compliant, suitable for both hosted and deployed SCORM or AICC.

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Tailoring

Fully customisable on Skillcast Portal CMS.

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Translation

Pre-translated versions not available, but all text content can be exported for translation into all languages.

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Localisation

Based on UK legislation, but suitable for global audiences upon the removal of UK-specific references and translation as necessary.