Consumer Credit or Hire

Licensing

If you provide consumer credit such as listed below, you are likely to require authorisation by the Financial Conduct Authority. 

• sell goods or provide service on credit
• hire or lease out goods for more than three months
• lend money
• arrange credit for others
• offer hire purchase terms
• collect debts or purchase debts
• help people with debt problem
• advise people of, or help them find information on, their credit standing
• administer agreements (but do not collect debts).

Even if you don't charge for your services or are non-profit making, or you don't do these activities all the time, you may still need authorisation.

Applications for authorisation can be made to the Financial Conduct Authority.