15th February 2010, 19:50
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| Basic Account Holder Help the CAG!! Download our toolbar |  Variable APR My  I read that the Regs require the word variable to be placed in the APR section if the APR is variable? Consumer Credit (Agreements) Regulations 1983: The APR referred to in paragraphs 15 to 17 of Schedule 1 to these Regulations shall in documents embodying regulated consumer credit agreements, other than exempted agreements-- (a) be denoted as "APR" or "annual percentage rate" or "annual percentage rate of the total charge for credit; and (b) where it is subject to change, be accompanied by the word "variable". Is this a relevant point that could also render an agreement unenforceable? |
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