Commentary

26.1 Basic rules and their sources

ADVERTISING AND MARKETING vol 1
| Commentary

26.1 Basic rules and their sources

| Commentary

26 Consumer credit

26.1 Basic rules and their sources

Subject to a number of exceptions, the Consumer Credit Act 1974 Part IV1 applies to any advertisement2 for the purposes of a business carried on by the advertiser indicating that he is willing either to provide credit or to enter into an agreement for the bailment (hire) of goods by him3. Notable exceptions are first charge mortgages secured on land (regulated by the Financial Services Authority pursuant to the Financial Services and Markets Act 2000) and personal unsecured loans exceeding £25,0004. ‘Credit’ is defined in the Act as any form of financial

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