Consumer credit
Application form and guidance for traders requiring a consumer credit licence.
Who does it apply to?
If you are a provider of credit then you may require a consumer credit licence. The most common form of providing credit is that of a credit broker.
What is a credit broker?
If you introduce people to sources of credit or hire, you are a credit broker.
For example, you may be a retailer who has asked a finance company to finance purchases made by your customers or perhaps you are a mortgage broker who helps someone to obtain a loan from a bank or building society to buy a house.
Credit brokerage also includes introducing people to other credit brokers.
When do the rules apply?
The legislation controls introduction to:
- Virtually all sources of credit or hire where the amount sought does not exceed £25,000; also sources of mortgages of any amount for the acquisition or provision of a dwelling for occupation by the prospective debtor or a relative of theirs
The requirements
To act as a credit broker you must have a consumer credit licence for your business. This licence is required by The Consumer Credit Act 1974 and is issued by The Office of Fair Trading.
Application and guidance
The application form and guidance information are available on the web site for The Office of Fair Trading.
There is an information pack available from this office and can be obtained by telephoning 0161-793 2022.
Who to contact
- Name
- Trading Standards
- Address
- Crompton House
100 Chorley Road
Swinton
SALFORD
M27 6ES - Telephone
- 0161-793 2022
- trading.standards@salford.gov.uk
This page was last updated on 05 October 2007
Email this page to a friend
Bookmark this page using:
Find out more about social bookmarking.
These sites allow you to store, tag and share links across the internet. You can share these links both with friends and people with similar interests. You can also access your links from any computer you happen to be using.
If you come across a page on our site that you find interesting and want to save for future reference or share it with other people, simply click on one of these links to add to your list.
All of these sites are free to use but do require you to register. Once you have registered you can begin bookmarking. Each of the sites works slightly differently so use the links below to find out which service best suits your needs.
Find out more about social bookmarking at Wikipedia.
