CM-8.4.10

Where a customer's monthly gross income falls (e.g. due to redundancy or disability or a similar event outside the control of the customer), the bank must identify such accounts as 'technically non-compliant'. If a customer requests an extension to the tenor of the facility due to reduced income, then the bank may increase the term to assist the customer. The bank must take account of the 50% limit outlined in Paragraph CM-8.4.1. Such facilities must also be identified as 'technically non-compliant'.

Amended: January 2022
Amended: July 2021
Amended: October 2019
Amended: July 2012
Added: October 07