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<p>Various laws give consumers rights to cooling off periods, including the Consumer
Credit Act 1974 which provides a 14 day cooling off period in which to cancel a credit
agreement, such as a personal loan. In addition, the Financial Services (Distance
Marketing) Regulations 2004 set out that for most financial services sold at a distance,
consumers generally have 14 days to cancel the contract. For some products, such as
certain pension products, the period is 30 days.</p><p> </p><p>There are some financial
products where the right to cancel doesn't apply, for example where the price of that
service depends on fluctuations in the financial markets beyond the control of the
product provider, or where the service purchased has been used in full.</p><p> </p><p>The
Government keeps all legislation under review, working closely with the financial
services regulators as appropriate.</p>
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