Comments on: Who regulates commercial mortgages? http://www.property-funding.co.uk Commercial Mortgage Brokers | Property Development Finance | Bridging Loans Tue, 13 Jul 2010 20:19:54 +0000 hourly 1 By: admin http://www.property-funding.co.uk/ask-a-question/who-regulates-commercial-mortgages/#comment-18 admin Sun, 14 Dec 2008 15:51:53 +0000 http://www.property-funding.co.uk/ask-a-question/who-regulates-commercial-mortgages/#comment-18 <p>@Rosemary Hamilton McGinty: in terms of enforceable regulation you would probably say that the OFT (Office of Fair Trading) but even that is doubtful. There is no national governing body (such as the FSA) regulating commercial lending.</p> <p>The Financial Services Act 2002 which introduced regulation for residential mortgages does not cover Buy to Let mortgages or Commercial Mortgages. The Consumer Credit Act 1974 is limited to regulating loans under £25,000 The Consumer Credit Act 2004 removed the limit but then excludes loans for business purposes (and in any case loans secured by way of a 1st charge on land are excluded from CCA protection).</p> <p>not a very good state of affairs is it?</p> @Rosemary Hamilton McGinty: in terms of enforceable regulation you would probably say that the OFT (Office of Fair Trading) but even that is doubtful.
There is no national governing body (such as the FSA) regulating commercial lending.

The Financial Services Act 2002 which introduced regulation for residential mortgages does not cover Buy to Let mortgages or Commercial Mortgages.
The Consumer Credit Act 1974 is limited to regulating loans under £25,000
The Consumer Credit Act 2004 removed the limit but then excludes loans for business purposes (and in any case loans secured by way of a 1st charge on land are excluded from CCA protection).

not a very good state of affairs is it?

]]> By: Rosemary Hamilton McGinty http://www.property-funding.co.uk/ask-a-question/who-regulates-commercial-mortgages/#comment-17 Rosemary Hamilton McGinty Mon, 01 Dec 2008 20:03:25 +0000 http://www.property-funding.co.uk/ask-a-question/who-regulates-commercial-mortgages/#comment-17 <p>Who regulates commercial mortgage companies?</p> Who regulates commercial mortgage companies?

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