The Consumer Credit Act 1974 does not generally apply to loans granted by most major banks, building societies and insurance companies but the provision providing an opportunity for withdrawing from a prospective land mortgage1 may be applicable if the mortgage is:
(1) to be granted to an individual or partnership by a non-exempt lender; and
(2) is not a loan for the purchase of land.
The requirements of that provision will not normally be relevant in circumstances where the buyer client is purchasing land with the assistance of a first mortgage from an institutional lender but if the client already
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