MRT1 LO4: MCOB responsibilities of lenders and advisers
1,547 words · checked 2026-10-30 · Pro
The FCA's Mortgages and Home Finance: Conduct of Business sourcebook (MCOB) sets the rules for firms that lend on, administer, arrange or advise on regulated mortgage contracts. LO4 of the CeMAP® MRT1 unit asks who does what: which duties fall on the lender and which on the adviser (an intermediary or a lender's own adviser). Many firms are both, so focus on the activity, not the job title.
The four MCOB roles
MCOB 1.2.2G describes four types of firm: lenders, administrators, arrangers and advisers. Arrangers and advisers together are intermediaries. A bank that advises customers in branch and then lends to them carries the duties of both an adviser and a lender for that sale.
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