Buy Now Pay Later

A lender must carry out proportionate affordability checks before providing credit to ensure the borrower can afford to repay.

Complaints about mortgage lending decisions and associated matters are time-barred where made more than six years after the event or three years after the complainant ought reasonably to have known of cause for complaint.

A financial institution must take reasonable steps to rectify errors when they sell assets contrary to a customer's explicit instructions, and compensation should reflect the actual loss suffered rather than speculative future outcomes.

A financial services provider must conduct business with due skill, care and diligence, communicate clearly with customers, and complete ISA transfers within a reasonable timeframe (industry standard 30 calendar days).

An insurer must obtain fair market valuations for total loss claims using industry trade guides, and must take reasonable steps to preserve a policyholder's possessions before disposing of a vehicle.

Banks are not liable for international payment delays caused by issues with payment details, other financial institutions, or circumstances beyond their control, though they must provide fair service in their handling of the matter.

A lender must remove defaults from credit files as agreed, but compensation for financial loss requires clear evidence that the delay was the sole or primary cause of that loss.

A creditor is not liable for missed payments resulting from unauthorized borrowing where the account holder gave apparent authority to the family member to access and use the account.

A lender is not required to provide reminder notifications about Buy Now Pay Later expiry dates, and interest accrues in accordance with agreed terms when the balance is not paid by the specified deadline.

A PSP may apply an excess under the Faster Payment Scheme Reimbursement Rules even where the consumer was not explicitly warned about the excess at the point of payment, provided the rules permit such deduction.

A lender is not liable under Section 75 of the Consumer Credit Act 1974 for misrepresentation or breach of contract claims unless the consumer can demonstrate a factual and material misrepresentation or specific breach of the supply contrac

A lender is not jointly and severally liable under section 75 of the Consumer Credit Act 1974 for a supplier's misrepresentations unless the consumer can establish an actionable misrepresentation and/or breach of contract by the supplier.

A lender must carry out reasonable and proportionate checks to ensure a borrower can sustainably meet repayments, but can rely on applicant-provided information unless it has reason to believe it is inaccurate.

A payment service provider should have systems in place to monitor accounts for signs of fraud and scams, and may need to take additional steps or warnings before processing payments, particularly where multi-stage cryptocurrency scams are

A bank is only required to reimburse customers under the CRM code where they have been victims of a scam as defined in the code, which requires fraudulent intent by the recipient, not merely a civil dispute over goods or services.

A Section 75 claim for misrepresentation is subject to the six-year limitation period under the Limitation Act 1980, and a credit relationship is not rendered unfair under Section 140A merely because the underlying timeshare product was mar

A credit relationship is not rendered unfair under Section 140A of the Consumer Credit Act 1974 merely because the supplier may have breached timeshare marketing regulations by presenting the product as an investment.

A firm's general advertising claims must be assessed against the detailed terms and policies provided to consumers during the account opening process, and consumers are expected to review these materials before trading.

An electronic money institution must process authorised payments unless there are clear indications of fraud, but is not liable for losses where the customer was deceived by a convincing cover story and provided reassuring answers to fraud

A lender's data linking error causing inconvenience and declined applications may warrant compensation, but the award should reflect the limited objective impact when no adverse credit information was reported externally.

A lender is entitled under the mortgage terms to add fees and charges to the mortgage account, and is only required to account for actual receipts received, not to provide invoices for work carried out by appointed receivers.

A lender cannot be held liable under Section 75 of the Consumer Credit Act for claims that are time-barred under the Limitation Act 1980.

Firms must report accurate account information to Credit Reference Agencies in accordance with their terms and conditions, and no additional warning is required before reporting missed payments when the terms and conditions and privacy noti

A lender must carry out proportionate affordability checks appropriate to the circumstances, which may include income verification via open banking and assessment of expenditure through statistical data and credit searches.