(1) A creditor or mortgage credit intermediary shall act honestly, fairly, transparently and professionally, taking account of the rights and interests of the consumer, when -
(a) devising or otherwise creating credit products,
(b) granting or acting as an intermediary or providing advisory services on credit (and where appropriate ancillary services) to consumers, or
(c) executing a credit agreement.
(2) In relation to carrying on of any activity referred to paragraph (1)(b), the activity shall be based on:
(a) information about the consumer's circumstances,
(b) any specific requirement made known by the consumer,
(c) reasonable assumptions about risks to the consumer's situation over the term of the credit agreement, and
(d) where the activity is the provision of advisory services, the activity shall in addition be based on the information required under Regulation 23(4)(a).
(3) Creditors shall remunerate their staff and mortgage credit intermediaries, and mortgage credit intermediar
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