Related provisions for PERG 4.7.3
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In the FCA's view, in circumstances other than those excluded by article 72(5D) of the Regulated Activities Order, the need for an overseas lender to be authorised or to have an exemption will depend on the location of the land.4 This is because of:4(1) the territorial limitation in the definition of regulated mortgage contract so that regulation applies only if the land is in the EEA;44(2) the general principle and practice that contracts relating to land are usually governed
A SPV does not carry on the regulated activity of entering into a regulated mortgage contract (or agreeing to do so), merely by acquiring the legal or beneficial interest in the contract from the original lender, or by providing funding to the original lender. If the contract is subsequently varied, a SPV should take care to avoid the original contract being replaced with a new regulated mortgage contract (see PERG 4.4.4 G). The original lender is, of course, likely to require
This section2 applies:935510(1) in relation to sales data reports, to a firm:1010(a) which is a home finance provider; or(aa) 14which is a P2P platform operator which facilitates entry into a regulated mortgage contract, home purchase plan, home reversion plan or regulated sale and rent back agreement where the lender or provider does not require permission to enter into the transaction; or(b) which has permission to enter into a regulated credit agreement as lender in respect