{
  "url": "https://openlegislation.uk/financial-services-and-markets-act-2000-regulated-activities-amendment-order-2001/article-8",
  "json_url": "https://openlegislation.uk/financial-services-and-markets-act-2000-regulated-activities-amendment-order-2001/article-8.json",
  "legislation": "uksi/2001/3544",
  "legislation_title": "The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) Order 2001",
  "legislation_url": "https://openlegislation.uk/financial-services-and-markets-act-2000-regulated-activities-amendment-order-2001",
  "path": "article/8",
  "kind": "article",
  "number": "8",
  "heading": "Regulated mortgage contracts",
  "text": "In article 61 of the principal Order—\n(a) in paragraph (2), after “entered into” insert “by way of business”;\n(b) for paragraph (3)(a) substitute—\n“(a) a contract is a “regulated mortgage contract” if, at the time it is entered into, the following conditions are met—\n(i) the contract is one under which a person (“the lender”) provides credit to an individual or to trustees (“the borrower”);\n(ii) the contract provides for the obligation of the borrower to repay to be secured by a first legal mortgage on land (other than timeshare accommodation) in the United Kingdom;\n(iii) at least 40% of that land is used, or is intended to be used, as or in connection with a dwelling by the borrower or (in the case of credit provided to trustees) by an individual who is a beneficiary of the trust, or by a related person;”;\n(c) in paragraph (4), for “paragraph (3)(a)(ii)” substitute “paragraph 3(a)”.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2001/3544/article/8",
    "retrieved_at": "2026-10-29T07:26:19.417592+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}