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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.

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Policy update report

An update for members on recent policy activities