Related provisions for PERG 4.4A.1B

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Article 4(4B) of the Regulated Activities Order only applies if the regulated mortgage contract is covered by the MCD. A regulated mortgage contract is covered if: (1) the lender is acting in the course of his trade, business or profession; and(2) the borrower is an individual; and(3) the borrower is acting for purposes which are outside their trade, business or profession; and(4) the regulated mortgage contract does not come within one of the exclusions summarised in PERG 4.10A.5
PERG 4.10A.22GRP
Where advising on regulated mortgage contracts falls within the MCD, the Regulated Activities Order exclusions in PERG 4.10A.2G (3) do not apply to this activity. Advisers should note that: (1) if the adviser does not act for remuneration, the MCD does not apply; (2) the MCD does not cover the regulated mortgage contracts listed in PERG 4.10A.5 G; (3) the MCD only applies to advisory services provided to consumers;(4) the MCD only applies to personal recommendations.
8A contract is excluded from the definition of regulated mortgage contract if, at the time is entered into, it meets the following conditions:(1) it provides for credit to be granted by a ‘housing authority’ within the meaning of article 60E of the Regulated Activities Order. The definition in article 60E includes housing associations registered under the relevant housing legislation (see PERG 2.7.19FAG);(2) if entered into on or after 21 March 2016:(a) it is an agreement of a
(1) 2CONC does not apply to credit agreements secured on land, with some limited exceptions as set out in (3) and (4), below. (2) Agreements secured by a second or subsequent charge on the customer’s home are, where regulated, governed by MCOB from 21 March 2016 (subject to transitional provisions allowing for the earlier adoption of MCOB). For detailed guidance on the regulation of secured lending, see PERG 4.(3) The agreements secured on land to which CONC may apply include
TC App 1.1.1RRP
1ActivityProducts/SectorsIs there an appropriate qualification4requirement?4Designated investment business carried on for a retail clientProviding basic advice1.Stakeholder products excluding a deposit-based stakeholder productNoAdvising or giving personal recommendations (as relevant)132.Giving personal recommendations on securities13 which are not stakeholder pension schemes, personal pension schemes7 or broker fundsYes3.Giving personal recommendations on derivatives13Yes24.Giving