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Farm Business
Agricultural Matters
UK ACORN,FARM FINANCE,DES PHILLIPS,BEWARE!!!!!
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<blockquote data-quote="renewablejohn" data-source="post: 4379890" data-attributes="member: 1136"><p>Loan was taken out in Nov 2007 which is the transition period for CCA 2006 so the removal of the 25k regulated cap only came in in Mar 2008. Therefore they where entitled to do an unregulated loan at the time if they had signed it in Nov 2007. As the contract only comes into effect when signed by both parties then any signature after Mar 2008 would create a regulated contract for which they would be in breach of financial regulation.</p></blockquote><p></p>
[QUOTE="renewablejohn, post: 4379890, member: 1136"] Loan was taken out in Nov 2007 which is the transition period for CCA 2006 so the removal of the 25k regulated cap only came in in Mar 2008. Therefore they where entitled to do an unregulated loan at the time if they had signed it in Nov 2007. As the contract only comes into effect when signed by both parties then any signature after Mar 2008 would create a regulated contract for which they would be in breach of financial regulation. [/QUOTE]
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UK ACORN,FARM FINANCE,DES PHILLIPS,BEWARE!!!!!
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