PART 3Consumer buy-to-let mortgages

Obligations of registered consumer buy-to-let mortgage firms18.

(1)

A registered consumer buy-to-let mortgage firm must, in respect of its consumer buy-to-let mortgage business—

(a)

comply with the requirements set out in Schedule 2;

(b)

retain information relevant to demonstrating the firm’s compliance or non-compliance with the requirements of that Schedule—

(i)

in retrievable and legible form; and

(ii)

so long as any sum remains outstanding, or any mortgage or charge remains in place, under the consumer buy-to-let mortgage contract to which the information relates;

(c)

provide the FCA with such information in relation to the firm’s consumer buy-to-let mortgage business and its compliance with the requirements of that Schedule as the FCA may direct, in order to enable the FCA to discharge its functions under this Part; and

(d)

deal with the FCA in an open and co-operative manner.

(2)

Information provided under paragraph (1)(c) must be given at such times and in such manner, and verified in such manner, as the FCA may direct.

(3)

Sections 34825, 34926 and 35227 of the Act (confidential information) and regulations made under section 349 of the Act apply in relation to information provided to the FCA under paragraph (1)(c) as they apply in relation to information received by the FCA in the discharge of its functions under the Act.