National Westminster Bank Plc v Devon County Council, Devon County Council v Abbey National Plc: QBD 16 Jul 1993

A lender may use an initial fixed rate as the basis for an APR quotation. The APR on a 25 year mortgage may be calculated on the initial fixed rate not the subsequent variable one.

Citations:

Independent 25-Aug-1993, Times 16-Jul-1993

Statutes:

Consumer Credit Act 1974 46

Consumer, Banking

Updated: 09 April 2022; Ref: scu.84213