Consumer Credit Act 1974: Primary legislation governing consumer credit agreements in England and Wales. Essential if the loan is being made to a consumer rather than a business.
Financial Services and Markets Act 2000: Key legislation regulating financial services activities in the UK, including lending and credit arrangements.
Consumer Rights Act 2015: Legislation protecting consumer rights and governing unfair terms in consumer contracts.
Unfair Contract Terms Act 1977: Legislation controlling unfair terms in contracts, particularly exclusion and limitation clauses.
Law of Property Act 1925: Relevant legislation if the loan is secured against property or land.
FCA Regulations: Financial Conduct Authority regulatory framework governing financial services and lending activities.
CONC: Consumer Credit sourcebook containing detailed rules and guidance for consumer credit firms.
Regulated Activities Order 2001: Specifies which activities require FCA authorization, including certain lending activities.
Data Protection Requirements: GDPR and Data Protection Act 2018 requirements for handling personal data in loan agreements.
Anti-Money Laundering Regulations: Requirements for customer due diligence and preventing financial crime in lending transactions.
Distance Marketing Regulations: Financial Services (Distance Marketing) Regulations 2004 governing loans arranged remotely.
Disclosure Requirements: Mandatory information that must be provided to borrowers, including APR and total amount payable.
Cooling-off Periods: Statutory withdrawal rights allowing consumers to cancel credit agreements within specified timeframes.
Fair Treatment Guidelines: FCA principles and guidelines for ensuring fair treatment of customers in lending practices.
Interest Rate Regulations: Rules governing how interest can be charged and calculated in loan agreements.
