article 3(1)(b) credit agreement
- (a) under which the person to whom the credit is provided is a consumer,
- (b) the purpose of which is to acquire or retain property rights in land or in an existing or projected building; and
- (c) which is not an MCD regulated mortgage contract.
- (d) in relation to a contract entered into before IP completion day162:154
- (i) to land or a building in the United Kingdom; or 154
- (ii) if the contract was entered into on or after 21 March 2016, to land or a building in the United Kingdom or within the territory of a State that was an EEA State at the time the contract was entered into; and154
- (e) in relation to a contract entered into on or after IP completion day162, to land in the United Kingdom.154
where the reference in (b) to land or a building is a reference:154
[Note: articles 3(1)(b) and 4(3) of the MCD]