I'm interested in starting a loan brokerage company and need some advice about getting a consumer credit licence and anything else i should do. only sensible answers please. uk
2006-12-07 01:49:49 · 4 answers · asked by Anonymous in Business & Finance ➔ Credit
You need to contact the Financial Services Authority first, who set exmainations for qualifications and authorise brokers. You cannot broker in the UK without the authorisation from the FSA. The FSA is above the law and has power to imprison and/ or fine any or all indivduals oeprating directly or indirectly (ie working for a company) that is not authorised. The Authorisation process is NOT simple. The exams are tough and timeconsuming. You will also need provide proof of CCL and Data Protection License.
2006-12-07 02:02:40 · answer #1 · answered by music_lovin_miss 4 · 0⤊ 0⤋
As well as a Consumer Credit License, you will also need a license from the Office of Data Protection.
Join a trade association, it used to be HPTA, - hire purchase trades association. They will be able to provide you with sample agreements to ensure that you comply with the various acts that oversee this industry.
The internet will give you links to all these organisations.
2006-12-07 10:46:28 · answer #2 · answered by Davy Crockett 3 · 0⤊ 0⤋
You have to apply to the Office of Fair Trading in London who issue the licence. You have to complete the necessary forms and pay the fee. They will check you up and if you are OK ,with no criminal records with good credit history, you will get one.
2006-12-08 02:47:06 · answer #3 · answered by Anonymous · 0⤊ 0⤋
as above
2006-12-08 13:14:46 · answer #4 · answered by dream theatre 7 · 0⤊ 0⤋