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Regulated or Non Regulated Lease Purchase
Hi all
I have what is reffered to on the document as a "Non Regulated Lease Purchase Agreement". I am confused as to the limits set out for this. I have read that over £25k would make it non regulated but have read on some sites that its if you borrow more than £25k and on others that if the total payable after interest is added exceeds £25k.
Can anybody clarify this 100% ?.
I borrowed £21.5k but with interest it is much higher than the £25k cut off point.Im a personal lender and not a company but i get a VAT invoice each month.Is this right ?.
Thanks
I have what is reffered to on the document as a "Non Regulated Lease Purchase Agreement". I am confused as to the limits set out for this. I have read that over £25k would make it non regulated but have read on some sites that its if you borrow more than £25k and on others that if the total payable after interest is added exceeds £25k.
Can anybody clarify this 100% ?.
I borrowed £21.5k but with interest it is much higher than the £25k cut off point.Im a personal lender and not a company but i get a VAT invoice each month.Is this right ?.
Thanks
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