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Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

qualifying credit

    3(as defined in Schedule 1 paragraph 10 (Providing qualifying credit) of the Financial Promotion Order) credit (including a cash loan and any other form of financial accommodation) provided in accordance with an agreement under which:

      1. (a) the lender is a person who enters into or administers regulated mortgage contracts; and
      1. (b) the obligation of the borrower to repay is secured (in whole or in part) on land.