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The Consumer Credit Act (CCA) is a UK law that regulates credit and borrowing for consumers. It sets out rules for lenders and borrowers, including things like interest rates, charges, and payment terms. However, there are some agreements that are not covered by the CCA. These agreements are often referred to as « excluded agreements. »

Excluded agreements are typically agreements that involve high-value loans or those that are not offered to the general public. Here are some examples of agreements that are not regulated by the Consumer Credit Act:

1. Loans over £60,260: Loans over this amount are not regulated by the CCA and tend to be offered to large businesses and wealthy individuals.

2. Hire purchase agreements on land and buildings: Hire purchase agreements are typically used for cars and other consumer goods, but they are not regulated by the CCA when used for land and buildings.

3. Business loans: Loans taken out by businesses are not covered by the CCA. They are instead regulated by the Financial Conduct Authority (FCA).

4. Loans from friends and family: Loans from friends and family members are not regulated by the CCA.

5. Credit that is incidental to another agreement: For example, if you buy something on credit from a company that is not primarily a lender, the credit agreement may not be regulated by the CCA.

It`s important to note that just because an agreement is not regulated by the CCA doesn`t necessarily mean that it`s not a good deal. However, it does mean that you will not benefit from the protections that are afforded to you under the CCA, such as the right to cancel within 14 days of signing the agreement.

If you are considering taking out a loan or other credit agreement, it`s always a good idea to read the terms and conditions carefully and seek professional advice if necessary. This will help you to understand the terms of the agreement and ensure that you are making an informed decision.

In conclusion, there are several agreements that are not regulated by the Consumer Credit Act. These agreements are typically high-value loans, business loans, or credit that is incidental to another agreement. While these agreements may not be covered by the CCA, it`s still important to carefully read the terms and conditions and seek professional advice if necessary.