Hello Could someone explain to me the difference between a Regulated Credit amount and an Unregulated Credit amount please? I had a remorgage where so much was to pay off the original lender and the rest was for home improvements.

Thankyou in advance Lisa

-- Lisa (lisa_foxy@yahoo.co.uk), April 02, 2002

Answers

Secured and unsecured I think. Home improvement loans are unsecured, even when advanced as part of a remortgage. Unsecured loans are harder to collect - secured ones are easiest, by virtue of the collateral they are secured against.

-- Too scared to say (iwasduped@yahoo.com), April 02, 2002.

Actually I think I'm wrong. Sorry! I believe this may refer to financial transactions which are regulated by the FSA and those which do not, for whatever reason, fall under the umbrella of that Act.

-- Too scared to say (iwasduped@yahoo.com), April 02, 2002.

Hi Lisa,

Perhaps you are refering to an agreement regulated (or not, as the case may be) by the Consumer Credit act 1974.

Whether a "further advance" or secured home improvement loan comes within the scope of this Act, I don't know.

Can anyone shead any light on this one?

-- (stephen.pooley@ntlworld.com), April 03, 2002.

Hello Lisa here Actually I was reading through some of the paper work which I recieved after serving a SARN on B&B and I noticed on the one of the papers it said a regulated amount was the home improvement loan and the unregulated amount was to pay the original morgage with a higher interest rate.....Is this normal

Thanks Lisa

-- Lisa (lisa_foxy@yahoo.com), April 04, 2002.

Hello

Sorry if anyone sent me an email but the email I gave was wrong I am not a co.uk I am a .com Sorry.. Lisa

-- Lisa (lisa_foxy@yahoo.com), April 04, 2002.