Q&As

Does a proposed loan, which is to be secured on the borrower’s house, constitute a regulated mortgage contract under the Financial Services and Marketing Act 2000 for the purposes of redeeming an existing mortgage and purchasing an investment property? The loan is more than 40% of the value of the property over which it will be secured.

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Published on: 14 October 2019
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Under section 19 of the Financial Services and Markets Act 2000 (fsma 2000), a person cannot carry out a regulated activity, or purport to do so, in the UK unless they are either an authorised person (ie authorised by the Prudential Regulation Authority and/or the Financial Conduct Authority), or an exempt person (eg by being an appointed representative). For an overview of the regulated

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Jurisdiction(s):
United Kingdom
Key definition:
Regulated mortgage contract definition
What does Regulated mortgage contract mean?

This is a type of regulated investment defined in the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, SI 2001/544, art 61(3).

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