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Disclaimer: This is not legal advice. Legislation and case law change. Always consult a qualified solicitor for your specific situation.

UK Law Reference
All sections of Consumer Credit Act 1974
1974 c. 39, s.58

Section 58 — Opportunity for withdrawal from prospective land mortgage.

This version in force from 2013-07-26

Snapshot: 2026-08-24

Reproduced from legislation.gov.uk (Crown Copyright, Open Government Licence v3.0). Amendments made after 2026-08-24 may not be reflected — always check the official text .

(1) Before sending to the debtor or hirer, for his signature, an unexecuted agreement in a case where the prospective regulated agreement is to be secured on land (the “mortgaged land ”), the creditor or owner shall give the debtor or hirer a copy of the unexecuted agreement which contains a notice in the prescribed form indicating the right of the debtor or hirer to withdraw from the prospective agreement, and how and when the right is exercisable, together with a copy of any other document referred to in the unexecuted agreement.

(2) Subsection (1) does not apply to—

(a) a restricted-use credit agreement to finance the purchase of the mortgaged land, or

(b) an agreement for a bridging loan in connection with the purchase of the mortgaged land or other land.