Consumer Credit or Hire
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.