Find out what permissions you'll need to apply to us for authorisation, and what we expect to see in your application.
Before reading this page, please read our page for all credit broker applicants[1] to understand:
- our expectations of consumer credit firms
- everything else we expect you to read before you submit your application
- the difference between Limited Permission firms and Full Permission firms
Permissions you'll need
If you've tried to determine whether you're a Limited or Full Permission firm[2] and you're still not sure, use the information below to determine which permissions you'll need based on the the regulated activities you intend to carry out.
If you don't meet all of these criteria, or you have Full Permission to carry out other regulated activities (eg arranging (bringing about) deals in investments, or making arrangements with a view to transactions in investments), you'll be a Full Permission firm.
| If you: | It's likely that you'll need: |
|---|---|
| Introduce customers to third-party finance providers to pay for goods you sell or services you provide | Limited Permission Secondary Credit Broking |
| Introduce customers to third-party finance providers to pay for goods you sell or services you provide, and help them end outstanding finance on existing goods or services |
Limited Permission Secondary Credit Broking Limited Permission Debt Counselling and Limited Permission Debt Adjusting |
| Introduce customer to third party hire/lease companies so they can hire/lease equipment you don’t own | Limited Permission Broking of Consumer Hire and Hire Purchase |
| Introduce customer to third party hire/lease companies so they can hire/lease equipment you don’t own and help them end existing finance |
Full Permission Credit Broking Full Permission Debt Counselling Full Permission Debt Adjusting |
|
Provide finance to pay for membership fees and/or equipment or services yourself, under the following criteria:
|
Limited Permission Entering into regulated credit agreements as lender Limited Permission Exercising, or having the right to exercise, the lenders rights and duties under a regulated credit agreement * If you don’t meet all of the criteria in the box opposite (eg you charge an admin fee for the credit), you'll be a Full Permission lender * If you help customers end existing finance before they take out finance with you, you'll also need Limited Permission Debt Counselling and Debt Adjusting |
| Lease/hire/rent equipment you own for periods longer than 3 months |
Limited Permission Consumer Hire (unless you hold Full Permission for another activity) * If you help customers end existing finance before they take out a lease/hire agreement with you, you'll also need Limited Permission Debt Counselling and Debt Adjusting |
| Introduce customers to insurance providers |
If you're a Limited Permission firm, you could become an appointed representative[3] of the insurance provider If you're Full Permission firm, you'll also need to apply for insurance permissions (eg arranging (bringing about) deals in investments, making arrangements with a view to transactions in investments) |
What we're looking for in your application
You'll need to submit a range of supporting material[4] as part of your application. Please check which forms to complete and the other documentation required before you start your application.
Below are some of the specific things we expect to see if you're a vet or a dentist – providing this information will help you to demonstrate that you can meet our expectations.
