Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Consumer definition

What does Consumer mean? A consumer is, in practice, an individual who acquires goods, services or digital content for personal use, not for the purposes of a trade, business, craft or profession. The precise meaning is statutory and context‑specific. England & Wales and Scotland: The Consumer Rights Act 2015, s2(3), defines a consumer as an individual acting for purposes wholly or mainly outside their trade, business, craft or profession (capturing mixed‑purpose purchases where the business purpose is not predominant). The Unfair Contract Terms Act 1977 instead asks whether a party “deals as consumer”, a distinct test relevant to exclusion and limitation clauses. The Sale of...

Consumer buy-to-let lending: UK framework under the Mortgage Credit Directive Order 2015—scope, FCA registration, conduct, reporting, complaints, and FSMA 2023 revocation framework

Published by a LexisNexis Financial Services expert

Practice notes

Scope of this PrACTice Note

This Practice Note explains the regulatory framework for Consumer buy-to-let (CBTL) Lending under the Mortgage Credit Directive Order 2015, SI 2015/910 (MCD Order 2015), which implemented the EU Mortgage Credit Directive (Directive 2014/17/EU) (the EU MCD) within the UK regime before the UK decided to leave the EU. The MCD Order 2015 was issued on 25 March 2015 and became fully operative on 21 March 2016, the deadline by which all Member States were required to implement the EU MCD. For a flowchart indicating whether CBTL registration obligations apply, see: Registration requirements for CBTL mortgages—flowchart. For an outline of the UK’s implementation of the EU MCD, see Practice Note: Mortgage Credit Directive—UK implementation and the post-Brexit regime. For an overview of the EU MCD framework, see Practice Note: EU Mortgage Credit Directive—essentials.

Status of the MCD Order 2015

The Financial Services and Markets Act 2023 (FSMA 2023) introduced a framework for revoking assimilated EU law and replacing it with rules developed under the Financial Services and Markets Act 2000 (FSMA 2000) model of financial services regulation. Under this framework, financial services regulators will become responsible for setting many of...

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Rachpal Thind

Sidley Austin

Rachpal's clients turn to her for advice on complex UK and EU regulatory and compliance matters, in particular those relating to cross-border issues. She has for many years counseled overseas banks, investment management firms, insurance companies and consumer credit firms on UK authorization and licensing requirements, as well as on EU/UK anti-money laundering and financial sanctions compliance matters. When clients interact with regulatory agencies, Rachpal provides technical and strategic support on regulatory investigations and breaches.Rachpal also has extensive experience of advising arrangers, issuers, originators, investment managers and investors on the regulatory aspects of structured finance and capital market transactions covering the Securitization Regulation, regulatory capital requirements, marketing and listing requirements, and market conduct issues within the context of the Market Abuse Regulation.Recent representative matters include advising:The lenders on Sotheby's art loans structured facility. The transaction was named "Structured Finance and...

Web page updated on 21/05/2026

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