Consumer credit, mortgage and home finance

Consumer credit, mortgage and home finance guidance:

This Practice Note explains the rights held by certain categories of person to sue authorised firms in circumstances in which they have suffered a loss. The legislative...

Practice Note

Background to the regulation of home finance transactions The regulation of home finance transactions came about at different points in time. HM Treasury announced its...

Practice Note

Background to the regulation of home finance transactions The regulation of home finance transactions came about at different points in time. On 31 October 2004 (a date...

Practice Note

What is the financial promotion restriction? Under section 21 of the Financial Services and Markets Act 2000 (FSMA 2000), a person (A) must not, in the course of...

Practice Note

The rules for how firms should deal with complaints by customers are contained in the Dispute Resolution: Complaints Sourcebook (DISP) in the Financial Conduct Authority...

Practice Note

Introduction to early settlement Borrowers are entitled, at any time, to bring regulated agreements to an end. If they elect to do so they must notify the debtor by way...

Practice Note

Firms carrying on a consumer credit-related activity are required to comply with the Financial Conduct Authority’s (FCA) Consumer Credit Sourcebook (CONC). Chapter 6 of...

Practice Note

Consumer credit pre-contract requirements In its Consultation Paper entitled 'Detailed proposals for the FCA regime for consumer credit (CP13/10), the Financial Conduct...

Practice Note

Goode consumer credit materials—default and enforcement For further discussion on the topics raised in this Practice Note, a statement of the regulatory requirements...

Practice Note

BREXIT: As of exit day (31 January 2020), the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has entered an...

Practice Note

The Consumer Credit Act 1974 (CCA 1974), the Financial Services and Markets Act 2000 (FSMA 2000) and the Financial Services and Markets Act 2000 (Regulated Activities...

Practice Note

This Practice Note looks at key aspects of consumer protection within the UK financial services regulatory system. The UK’s regulatory structure, combined with...

Practice Note

What is a consumer redress scheme? Rule making powers came into force in 2010 which afforded the predecessor to the Financial Conduct Authority (FCA), the Financial...

Practice Note

Definition of credit limit A credit limit is used in running-account credit agreements and is the maximum amount the borrower can drawdown, disregarding any term of the...

Practice Note

ARCHIVED: This archived Practice Note provides information on the data protection regime before 25 May 2018 and reflects the position under the Data Protection Act 1998....

Practice Note

Debt advice This Practice Note examines the rules debt management firms must follow under Chapter 8 (Debt Advice) of the Financial Conduct Authority’s (FCA) Consumer...

Practice Note

The debt sale and purchase market in the UK The debt sale and purchase market has for some time been very active throughout the UK. It is an important way for lenders and...

Practice Note

A consumer credit agreement is an agreement between an individual (the debtor) and any other person (the creditor) by which the creditor provides the debtor with credit...

Practice Note

This Practice Note sets out the passporting rights and related notification requirements of credit intermediaries established in the European Economic Area (EEA) which...

Practice Note

Specific rules in the benefits code in ITEPA 2003, Part 3 apply to 'employment-related loans' and, in certain circumstances, impose income tax and National Insurance...

Practice Note

FCA approach on the supervision of financial promotion This Practice Note provides information on how the Financial Conduct Authority (FCA) ensures that financial...

Practice Note

BREXIT: The UK is leaving EU on Exit Day (as defined in the European Union (Withdrawal) Act 2018). This has an impact on this Practice Note. To ensure the effective...

Practice Note

Background to the regulation of home finance transactions The regulation of home finance transactions came about at different points in time. HM Treasury announced its...

Practice Note

Background to the FCA consumer credit authorisation regime Since 1 April 2014 the UK Financial Conduct Authority (FCA) has been responsible for regulating consumer credit...

Practice Note

Background to the FCA’s client money requirements in relation to debt management firms In December 2012, the Financial Services Act 2012 (FSA 2012) received royal assent...

Practice Note

Treating Customers Fairly (TCF) is a principles-based initiative. Under the regulatory regime authorised firms must pay due regard to the interests of their customers and...

Practice Note
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