understanding financial jargon
Consumer Credit Act
The Consumer Credit Act is the law which regulates certain secured and unsecured lending. Regulated loans require set procedures for both pre-loan administration and default arrangements. The Consumer Credit Act also sets out requirements for `cooling-off periods' - these provide the opportunity for borrowers to change their minds.
What to do if you need more help
If you need more help with your specific commercial loan, mortgage or insurance requirement please speak to a professional financial adviser.
We hope you found this information useful.
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