Commons2nd reading

Interest Rates (Maximum Limit) Bill

To make provision for a maximum limit for interest rates to be prescribed; and for connected purposes

Originating House

House of Commons

Parliament last updated

20 November 2008

In Plain English

AI-generated

May contain errors — check source documents for definitive information.

The bill would put a legal ceiling on the interest rates that lenders can charge, with the exact limit to be set by future government regulations. It would also include related provisions to help implement and enforce the cap.

Key Points

A maximum interest rate is introduced and the limit will be prescribed by regulations set by the government.
The bill includes other provisions to support the cap and its implementation.

Who is affected?

Borrowers/consumers who borrow money or use creditLenders and financial institutions operating in the UK (banks, building societies, payday lenders, etc.)The wider credit market and consumers who encounter borrowing offers

Generated 21 February 2026

Bill Stages

1st readingCommons

12 Nov 2008

2nd readingCommons

Committee stageCommons

Report stageCommons

3rd readingCommons

1st readingLords

2nd readingLords

Committee stageLords

Report stageLords

3rd readingLords

Royal Assent

Parliamentary Votes (0)

No recorded votes for this bill yet.