Financial Services Authority (FSA) regulation
Under FSA rules, for a mortgage contract to be regulated it must comply with the following:
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Lending is to individuals or trustees
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The lender has a first legal charge over a UK property as security
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At least 40% occupancy of the property must be as a principle
private residence for the borrower(s) or their family.
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Note – Most “buy-to-let” and “commercial” mortgages are not regulated by the FSA.
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