Consumer Credit Act
The following issue updates are available for Consumer Credit Act.
APR calculations
18 March 2009 | Explains what the Annual Percentage Rate of Charge (APR) is and how it is calculated.
Consumer Credit Act "wealth warnings"
18 March 2009 | This page explains the prescribed text for "wealth" warnings which must appear in advertisements for mortgage products.
Consumer Credit Act 2006: Removal of the £25,000 financial limit and impact of Section 82 of the CCA 1974
8 April 2009 | The Legislative Reform Order (LRO) to ensure that buy-to-let loans remain unregulated came into force on 31 October 2008. A copy of the LRO is included on this page. Members may wish to consider a possible legal issue that has recently been raised in relation to the LRO.
Consumer Credit Act; OFT consultation on guidance for second charge lending
16 February 2009 | The OFT has published a consultation on guidance for brokers and lenders on second charge lending. The closing date for responses is 8 May 2009.
EU draft directive on consumer rights
17 February 2009 | The draft directive on consumer rights has recently been the subject of a consultation by DBERR to ascertain its implications for the UK. It could have some limited impact on UK financial services including mortgages.
European Code of Conduct
18 March 2009 | Explains what the European Code of Conduct is and its impact for UK lenders.
