Unregulated loans
This consideration period protection is only available on loans of £25,000 or less. If the loan is for more than £25,000 this protection (consideration period) is not provided. It might seem odd that you have statutory protection for loans below £25,000 and not for larger loans or mortgages. The law supposes that this protection, as provided within the Consumer Credit Act 1974, is not needed for larger loans of £25,000 and above as it is more likely that borrowers will take legal advice before agreeing to borrow a large loan or mortgage.