The Consumer Credit (Advertisements) Regulations 2004

Regulations 4(1), 7(6), 8(1) and (6)

SCHEDULE 2 INFORMATION TO BE CONTAINED IN A CREDIT ADVERTISEMENT

Amount of credit

1.  The amount of credit which may be provided under a consumer credit agreement or an indication of one or both of the maximum amount and the minimum amount of credit which may be provided.

Deposit of money in an account

2.  A statement of any requirement to place on deposit any sum of money in any account with any person.

Cash price

3.  In the case of an advertisement relating to credit to be provided under a debtor-creditor-supplier agreement, where the advertisement specifies goods, services, land or other things having a particular cash price, the acquisition of which from an identified dealer may be financed by the credit, the cash price of such goods, services, land or other things.

Advance payment

4.  A statement as to whether an advance payment is required and if so the amount or minimum amount of the payment expressed as a sum of money or a percentage.

Frequency, number and amount of repayments of credit

5.—(1) In the case of an advertisement relating to running-account credit, a statement of the frequency of the repayments of credit under the advertised transaction and of the amount of each repayment stating whether it is a fixed or minimum amount, or a statement indicating the manner in which the amount will be determined.

(2) In the case of other credit advertisements, a statement of the frequency, number and amounts of repayments of credit.

(3) The amount of any repayment under this paragraph may be expressed as a sum of money or as a specified proportion of a specified amount (including the amount outstanding from time to time).

Other payments and charges

6.—(1) Subject to sub-paragraphs (2) and (3) below, a statement indicating the description and amount of any other payments and charges which may be payable under the transaction advertised.

(2) Where the liability of the debtor to make any payment cannot be ascertained at the date the advertisement is published, a statement indicating the description of the payment in question and the circumstances in which the liability to make it will arise.

(3) Sub-paragraphs (1) and (2) above do not apply to any charge payable under the transaction to the creditor or any other person on his behalf upon failure by the debtor or a relative of his to do or refrain from doing anything which he is required to do or refrain from doing, as the case may be.

Total amount payable by the debtor

7.—(1) Subject to sub-paragraph (2) below, in the case of an advertisement relating to fixed-sum credit to be provided under a consumer credit agreement which is repayable at specified intervals or in specified amounts and other than cases under which the sum of the payments within sub-paragraphs (a) to (c) below is not greater than the cash price referred to in paragraph 3, the total amount payable by the debtor, being the total of—

(a) advance payments;

(b) the amount of credit repayable by the debtor, and

(c) the amount of the total charge for credit.

(2) Sub-paragraph (1) above does not apply in the case of an advertisement relating to a consumer credit agreement where the advertisement does not specify goods, services, land or other things having a particular cash price, the acquisition of which may be financed by credit.