The Loans for Mortgage Interest Regulations 2017

5.  The UC Regulations are amended as follows—

(a) omit regulation 25(2)(b);

(b) omit regulation 26(3)(b)(i);

(c) in regulation 26(3)(b)(ii), omit “only”;

(d) omit regulation 66(1)(h)(ii);

(e) in Schedule 1—

(i) in paragraph 3(f), for “within the meaning of paragraph 4” substitute “within the meaning of Schedule 1 of the Loans for Mortgage Regulations 2017”;

(ii) omit paragraphs 4 to 6;

(iii) in paragraph 7(3)(a), for “a loan that falls within paragraph 5” substitute “a qualifying loan within the meaning of regulation 2 of the Loans for Mortgage Interest Regulations 2017”;

(f) in Schedule 5—

(i) in paragraph 2, omit the definitions of “alternative finance arrangements”, “alternative finance payments”, “loan interest payments” and “standard rate”;

(ii) for paragraph 3(1), substitute—

“(1) “Relevant payments” means one or more payments which are service charge payments.”;

(iii) omit paragraph 3(2);

(iv) in paragraph 9, for “the aggregate of the amounts resulting from paragraphs 10, 11 and 13” substitute “the amount resulting from paragraph 13”; and

(v) omit paragraphs 10, 11 and 12.