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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.
Start your trial Course details
  • 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

Common FAQs

How can I log and track incidents of financial crime in my organisation?

Our Compliance Breach Register allows you to securely log and monitor incidents of financial crime, such as bribery or money laundering. The tool enables you to track resolution progress and maintain a clear audit trail, ensuring accountability and compliance with regulatory requirements.

How can I ensure my employees understand and comply with our internal policies in relation to financial crime?

Our Policy Hub enables you to distribute policies such as your Anti-Money Laundering (AML) policy to employees, track acknowledgements, and send automated reminders. This ensures everyone understands their obligations and helps you maintain compliance with financial crime regulations.
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Are Skillcast courses SCORM-compliant?

Yes. This means they can be delivered via the Skillcast Portal or any other SCORM-compliant Learning Management System.

What other tools are needed beyond training?

A comprehensive compliance solution often needs more than just training. Alongside e-learning, tools like declarations, surveys, and registers that track compliance tasks are usually essential. Skillcast provides full support to help you set up these additional tools.

Is our training content still compliant with the latest legislation?

  • You can check the latest course content updates in our library updates page: https://www.skillcast.com/compliance-course-library-updates
  • For major legislative changes, we:
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    • Offer you a free trial of newly created or updated content
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Can you translate our content into other languages?

Yes, we offer translations in a wide range of languages. Let us know your needs, and we’ll confirm availability or work with you to plan translations for your selected modules.

How can I give employees a secure way to record suspicious activity so we can act quickly?

Our Suspicious Activity Register allows staff to log concerns or irregularities they observe, helping you detect potential issues early. The secure register can be reviewed by compliance teams, enabling prompt investigation and action.

What file types are supported by the Skillcast system?

Features

Supported file types and details

File Exchange

File types: PDF, Excel spreadsheets, Word documents, SCORM and xAPI files, and compressed zip files. Max file size: Default is 1GB, can be increased to a max of 2GB

SCORM files

Versions: SCORM 1.2, SCORM 1.2 for Moodle, SCORM 2004 2nd, 3rd and 4th Edition. Max file size: 1024MB

xAPI file

Max file size: 2GB

Videos

File types: MP4 or MOV. Videos must be optimised, with a max file size of 100MB. If the file is bigger, our Design Team can help

Images

File types: jpg, png and gif. The file size should ideally be 100KB, but it can be up to 250KB

CPD evidence

File types: Word, PDF, Excel and CSV. File size: the limit should be whatever the portal config option is set to. Servers are set to max 2GB

Policy documents

PDF or Word File size: the limit should be whatever the portal config option is set to. Servers are set to max 2GB

Offline activities evidence

File types: PDF, DOC, DOCX, XLS, XLSX, CSV, PNG, GIF, JPEG, JPG, PPTX and MSG. File size: the limit should be whatever the portal config option is set to. Servers are set to max 2GB

Client logo files

File types provided by client: EPS, PDF, AI and SVG

Registers

PDF, DOC, DOCX, XLS, XLSX, CSV, PPT, PPTX, POT, PPA, PPS, JPG, JPEG, PJEPG, PNG, BMP, GIF, MP4, MOV, WMV, CPTX, CP, TXT, ZIP and MSG files

Declarations

JPG, JPEG, PNG, GIF, XLS and XLSX files

 

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