How to become a Credit Broker
Firms wishing to carry out lending or credit broking activities need to be authorised by the FCA – both applications are extremely different – most firms will be able to apply for the Limited Permission as opposed to Full Authorisation. (These firms will not need to supply as much information with their application and will be subject to a lower degree of supervision by the FCA.)
Credit brokers may be able to apply for Limited Permission where this is a secondary activity, and where the main business of the firm is selling goods or provides services of a non-financial nature – like automotive dealers.
Documentation the FCA will require for all credit applicants includes:
We can help with all of this!
As market leading consumer credit specialists, The Compliance Guys team have all the tools, knowledge, and wealth of experience to help you in your journey to get approved by the FCA. Our honest, transparent, quick, and hassle-free approach ensure the right outcomes and a stress-free application journey.