SCHEDULE 1 

PART IControlled Activities

Advising on qualifying credit etc.10B

1

Advising a person is a controlled activity if the advice is—

a

given to the person in his capacity as a borrower or potential borrower; and

b

advice on the merits of his doing any of the following—

i

entering into an agreement for the provision of qualifying credit, or

ii

varying the terms of a regulated mortgage contract entered into by him after the coming into force of article 61 of the Regulated Activities Order in such a way as to vary his obligations under that contract.

2

In this paragraph, “borrower” and “regulated mortgage contract” have the meaning given by article 61(3) of the Regulated Activities Order.