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Consumer credit licence

You are likely to need a credit licence if you:

  • 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 problems
  • 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 a licence.

To obtain a licence you will need to contact the Financial conduct authority (FCA).

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