a question about the lending code & banking code

confused90

i am preparing a letter and i am quoting the definitions of what is to be considered financial hardship from the lending code, but my question is does this code apply to charges on bank accounts? or is it just regarding loans and overdrafts being repaid?

And did this code replace the banking code as i read somehere that it did, or is the banking code still in effect?

any help would be greatly appreciated.

Orford

confused90 wrote: »

but my question is does this code apply to charges on bank accounts? or is it just regarding loans and overdrafts being repaid? No it covers bank a/c's

And did this code replace the banking code as i read somehere that it did, Yes

See page 20 here:
http://www.lendingstandardsboard.org.uk/docs/lendingcode.pdf

confused90

thanks, i thought it did but didn't want to look like a numpty quoting something that didn't apply.

cheers :beer: