Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Plans definition

What does Plans mean? Describes the set of design and technical documents for a project. In practice, parties use Plans to mean the drawings and related information that describe the works and are relied upon for design, planning, procurement and construction. The term is not generally defined by statute or case law; its scope is fixed by the contract or licence. Plans means all plans, drawings, models, specifications, reports, design documents and any other materials provided by the Licensor for the purposes of the Project, in hard copy or electronic form, including (without limitation) CAD/BIM models, federated models, schedules, surveys, calculations, method statements, datasheets and...

UK FCA/RAO regime for entering into and administering RMCs, HRPs, HPPs and SRBAs: scope, commencement dates and exclusions

Published by a LexisNexis Financial Services expert

Practice notes

Background to the regulation of regulated mortgage contracts and home finance transactions

The oversight of regulated mortgage contracts, along with home reversion plans, home purchase plans, and regulated sale and rent back agreements (together termed ‘home finance transactions’), emerged at different stages. In 2000, HM Treasury signalled its plan to regulate mortgage lenders, and in December 2001 it updated those proposals to bring mortgage intermediaries within scope. On 31 October 2004—widely called M Day—both lenders and intermediaries dealing in regulated mortgage contracts (RMCs) became subject to regulation. Subsequently, the Regulation of Financial Services (Land Transactions) Act 2005 (RFS(LT)A 2005) was passed, empowering the financial conduct authority (FCA), and before it the Financial Services authority, to supervise activities akin to those already regulated for RMCs, but where the provider acquires land rather than merely advancing funds for the homeowner’s purchase. Consequently, the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, SI 2001/544 (RAO), was amended twice. These changes aligned land-related arrangements with the existing mortgage regime and established a coherent framework for home finance overall...

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Web page updated on 22/05/2026

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