advising on regulated mortgage contracts
910the regulated activity, specified in article 53A of the Regulated Activities Order, which is in summary: advising a person if the advice:
- (a) is given to the person in his capacity as a borrower or potential borrower; and
- (b) is advice on the merits of his:
- (i) entering into a particular regulated mortgage contract; or
- (ii) varying the terms of a regulated mortgage contract entered into by him on or after 31 October 2004 in such a way as to vary his obligations under that contract.12