The Consumer Contract Regulations give UK shoppers a 14-day cooling off period for online purchases, allowing them to cancel contracts without penalty, but there are many exceptions and caveats to be aware of.
What the cooling off period covers
The law, in force for over a decade, applies to "off-premises and distance" contracts, meaning goods bought online are covered, but not those bought on the high street. It also covers contracts signed away from the business's location, such as a conservatory deal agreed with a salesperson at your home. Virtual goods like music and software are included, as long as they haven't been downloaded.
Exceptions and exemptions
Exemptions include bespoke or customised items, goods that deteriorate rapidly, newspapers, contracts at public auction, and sealed items for health or hygiene reasons once unsealed. Also exempt are gambling, property construction, residential lettings, package travel, timeshares, vending machine purchases, and single telecom connections. Financial services are generally exempt, but many have their own cooling off periods.
If an item has been dispatched, you'll pay the return cost if you change your mind, unless the goods are misrepresented, damaged, or not as advertised. Vehicles bought online are covered, but deductions may be made for usage.
Services and financial products
The 14-day period applies to most services, including gym memberships, broadband, and mobile phone contracts, though deductions may be made for fair use. Financial products like warranties, insurance sold with purchases, and point-of-sale credit agreements also have a 14-day period.
Bank accounts can be cancelled within 14 days, but debts must be paid off. Savings accounts with notice periods may have restrictions. Mortgages have no cooling off period, but you can pull out during the process, though costs may be lost. General insurance policies usually offer 14 days, but single trip travel insurance doesn't. Life insurance policies have a 30-day cancellation period. Regulated credit products have 14 days, but buy now, pay later deals are not regulated. Pensions and annuities have a 30-day opt-out period, and regulated investments have 14 to 30 days, but unregulated ones like crypto don't.
Extended retailer returns
Retailers may extend return periods, especially over Christmas, but these are at their discretion and don't affect your statutory rights for faulty goods.
