The comparison rate warning has been reviewed.

There will now be a short warning and a long comparison rate warning. The shortened warning can be used in credit advertising however the long warning must still appear in the comparison rates schedules. The warning should be given in the same form as the comparison rate unless the advertisement is on television, the Internet or other electronic display medium. The two warnings are alternatives (that is, either can be used).

The short warning is as follows: ‘WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.’

The previous warning in regulation 33C has been adopted as the long warning without amendment. Download the regulations.