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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.

payment shortfall

    153

      1. (1) the total sum of periodic instalments of capital or interest (or both) that have become due under the terms of a regulated mortgage contract but which, in breach of those terms, remains unpaid; or153
      1. (2) the total sum of periodic payments towards the purchase price or of rent (or both) that have become due under the terms of a home purchase plan but which, in breach of those terms, remains unpaid. 153