When does an unregulated mortgage become a "regulated mortgage contract"?

freya

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Joined: Mar 2016

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When does an unregulated mortgage become a "regulated mortgage contract"?

9th March 2016, 19:00:PM

:doggieyes:Hello Legal Beagles, does anyone know if a property bought (as a family home) with a buy to let mortgage, that has always been occupied as a dwelling by the borrower and their relatives, automatically become a regulated mortgage contract? I have checked the FCA handbook and PERG sections 4.1-4.4 seem to confirm the above (the 40% threshold). But I would like to know if this gives the protection of a regulated mortgage and safeguards a property from being forcibly sold at auction by a mortgage lender?

Any advice would be much appreciated.

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When does an unregulated mortgage become a "regulated mortgage contract"?

When does an unregulated mortgage become a "regulated mortgage contract"?

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