Regulated/Unregulated : LUSENET : Repossession : One Thread

Hello Could someone explain to me the difference between a Regulated Credit amount and an Unregulated Credit amount please? I had a remorgage where so much was to pay off the original lender and the rest was for home improvements.

Thankyou in advance Lisa

-- Lisa (, April 02, 2002


Secured and unsecured I think. Home improvement loans are unsecured, even when advanced as part of a remortgage. Unsecured loans are harder to collect - secured ones are easiest, by virtue of the collateral they are secured against.

-- Too scared to say (, April 02, 2002.

Actually I think I'm wrong. Sorry! I believe this may refer to financial transactions which are regulated by the FSA and those which do not, for whatever reason, fall under the umbrella of that Act.

-- Too scared to say (, April 02, 2002.

Hi Lisa,

Perhaps you are refering to an agreement regulated (or not, as the case may be) by the Consumer Credit act 1974.

Whether a "further advance" or secured home improvement loan comes within the scope of this Act, I don't know.

Can anyone shead any light on this one?

-- (, April 03, 2002.

Hello Lisa here Actually I was reading through some of the paper work which I recieved after serving a SARN on B&B and I noticed on the one of the papers it said a regulated amount was the home improvement loan and the unregulated amount was to pay the original morgage with a higher interest rate.....Is this normal

Thanks Lisa

-- Lisa (, April 04, 2002.


Sorry if anyone sent me an email but the email I gave was wrong I am not a I am a .com Sorry.. Lisa

-- Lisa (, April 04, 2002.

Moderation questions? read the FAQ