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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 31 December 2020 - onwards
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Article 61A Mortgage contracts which are not regulated mortgage contracts

(1) A contract falls within this paragraph if it is -

(a) a regulated home purchase plan;

(b) a limited payment second charge bridging loan;

(c) a second charge business loan;

(d) an investment property loan;

(e) an exempt consumer buy-to-let mortgage contract;

(f) an exempt equitable mortgage bridging loan; or

(g) an exempt housing authority loan.

(2) A contract falls within this paragraph if -

(a) it is a limited interest second charge credit union loan;

(b) the borrower receives timely information on the main features, risks and costs of the contract at the pre-contractual stage; and

(c) any advertising of the contract is fair, clear and not misleading.

(3) For the purposes of this article, if an agreement includes a declaration which -

(a) is made by the borrower, and

(b) includes -

(i) a statement that the agreement is entered into by the borrower wholly or predominantly for the purposes of a business carried on, or intended to be carried on, by the borrower,

(ii) a statement tha

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