Regulated Mortgage Contract definition

Regulated Mortgage Contract means a mortgage contract falling within Article 61(3) of the XXX.

Regulated Mortgage Contract means a mortgage contract falling within article 61(3) of the RAO;

Regulated Mortgage Contract means a mortgage contract falling within article 61(3) of the XXX; Website(s): the Lender Brands mortgage intermediary websites (as these may be amended from time to time) or any successor websites or other URLs or electronic addresses notified to you. The term “Website” covers all facilities provided in connection with the website including the On-line Mortgage Application system.

Examples of Regulated Mortgage Contract in a sentence

• A Regulated Mortgage Contract under the FSMA, if originated by a UK lender from an establishment in the UK, will not be cancellable under these regulations but will be subject to related pre-contract disclosure requirements in MCOB.

• An unauthorised person who carries on the regulated mortgage activity of administering a Regulated Mortgage Contract that has been validly entered into may commit an offence, although this will not render the contract unenforceable against the borrower.

• In this respect, the FSMA regime not only covers financial promotions of Regulated Mortgage Contracts but also promotions of certain other types of secured credit agreements under which the lender is a person (such as the Seller) who carries on the regulated activity of entering into a Regulated Mortgage Contract.

• If the lender or any broker did not hold the required authorisation at the relevant time, a Regulated Mortgage Contract will be unenforceable against the borrower except with the approval of a court and the unauthorised person may commit a criminal offence.

• This exemption only affects credit agreements made on or after 31 October 2004 (and credit agreements made before 31 October 2004 but subsequently varied such that a new contract is entered into on or after 31 October 2004 and constitutes a separate Regulated Mortgage Contract).

• The specified activities currently are: (a) entering into a Regulated Mortgage Contract as lender; (b) administering a Regulated Mortgage Contract ("administering" in this context broadly means notifying borrowers of changes in mortgage payments and/or collecting payments due under the mortgage loan); (c) advising on Regulated Mortgage Contracts; and (d) arranging Regulated Mortgage Contracts.

• A Regulated Mortgage Contract under the FSMA, if originated by a UK lender from an establishment in the United Kingdom, will not be cancellable under these regulations but will be subject to related pre-contract disclosure requirements in MCOB.

• Before entering into a new mortgage contract with us we will tell you whether it is an FCA Regulated Mortgage Contract.

• Failure to comply with the financial promotion regime (as regards who can issue or approve promotions) is a criminal offence and renders the Regulated Mortgage Contract or other secured credit agreement in question unenforceable against the borrower except with the approval of a court.

• Product transfers are transactions where the borrower moves to a new deal rate with the same lender, without changing any other terms of the mortgage that would trigger a new Regulated Mortgage Contract (RMC).

More Definitions of Regulated Mortgage Contract

Regulated Mortgage Contract means a credit agreement which constitutes a "regulated mortgage contract" as defined in the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (SI 2001/544), as amended from time to time; Regulation S means Regulation S under the Securities Act; Regulations means as the context may require the 1999 Regulations and/or, as applicable, the Unfair Terms in Consumer Contracts Regulations 1994 (SI 1994/3159) as amended from time to time;

Regulated Mortgage Contract means a contract under which –

Regulated Mortgage Contract has the meaning given to it under FSMA on or after N(M), being a contract that is a regulated mortgage contract if, at the time it is entered into:

Regulated Mortgage Contract means any regulated mortgage contract under FSMA;

Regulated Mortgage Contract means a Loan which is a regulated mortgage contract within the meaning set out in Article 61(3) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (SI 2001/544);

Regulated Mortgage Contract means a contract where the loan is provided to an individual (i.e.. sole trader or partnership) and the loan is secured by a first legal mortgage onelend in the UK where at least 40% of that land is used or is intended to be used as or in the connection with a dwelling by the borrower or a close family member. Any charges payable under this clause will be the same as the equivalent charges applicable at the time to the Bank's standard business current account. The Bank has provided you with details of these and you can ask the Bank for another copy of those details at any time.