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 including lending. Establishes regulatory framework and requirements for financial institutions.
Consumer Rights Act 2015: Modern legislation protecting consumer rights and defining unfair terms in consumer contracts including loans.
Unfair Contract Terms Act 1977: Regulates unfair terms in contracts, particularly exclusion clauses and limitations of liability.
Law of Property Act 1925: Fundamental legislation for secured lending, particularly relevant if the loan is secured against property.
FCA Handbook (CONC): Financial Conduct Authority's Consumer Credit sourcebook containing detailed rules and guidance for consumer credit activities.
RAO 2001: Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 - Defines which activities require FCA authorization.
Consumer Credit Disclosure Regulations 2010: Specifies information that must be disclosed to consumers in credit agreements.
Financial Promotion Order 2005: Regulates how financial products, including loans, can be marketed and promoted.
Money Laundering Regulations 2017: Sets out requirements for customer due diligence and anti-money laundering procedures in financial transactions.
Data Protection Act 2018: Governs how personal data must be handled, including credit information and customer details.
UK GDPR: Post-Brexit data protection regulation defining how personal data must be processed and protected.
Limitation Act 1980: Establishes time limits within which legal actions relating to the loan agreement must be brought.
Consumer Protection from Unfair Trading Regulations 2008: Prohibits unfair commercial practices and sets standards for business-to-consumer transactions.
