PART 2U.K.Amendment of the 2015 Order

Article 2 (interpretation)U.K.

4.—(1) At the beginning of article 2(2)(a) insert “subject to paragraph (3),”.

(2) After article 2(2) insert—

(3) In this Order the expressions set out in paragraph (4) have the same meaning as in the mortgages directive subject to the modification made in paragraph (5).

(4) The expressions are—

(a)“ancillary service” (in Article 4(4) of the mortgages directive);

(b)“bridging loan” (in Article 4(23) of the mortgages directive);

(c)“contingent liability or guarantee” (in Article 4(24) of the mortgages directive);

(d)“creditworthiness assessment” (in Article 4(17) of the mortgages directive).

(5) The modification is that each reference in the expression concerned to “credit agreement” is to be read as if there were substituted a reference to “buy-to-let mortgage contract” (as defined in this Order)..

Commencement Information

I1Reg. 4 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)