Article 5 Meaning of credit intermediary

(1)

A person acts as a credit intermediary if the person—

(a)

is not a creditor;

(b)

is not merely introducing, either directly or indirectly, a consumer to a creditor or credit intermediary;

(c)

is acting in the course of the person's trade, business or profession, for remuneration, which may take a pecuniary form or any other agreed form of financial consideration; and

(d)

meets one or more of conditions A to C.

(2)

Condition A is that the person presents or offers consumer buy-to-let mortgage contracts to consumers.

(3)

Condition B is that the person assists consumers by undertaking preparatory work or other pre-contractual administration in respect of consumer buy-to-let mortgage contracts other than as referred to in Condition A.

(4)

Condition C is that the person concludes consumer buy-to-let mortgage contracts with consumers on behalf of the creditor.

Notes on the whole SI

Textual amendments

F1: Order revoked (14.12.2023 for the revocation of art. 33) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 1 Pt. 2 (with s. 1(4)); S.I. 2023/1382, reg. 2(c)(xiii)