Full permissions for consumer credit firms

Discover the regulated activities that require full permission and the details of the application process.

Full or limited permission?

Full permission is a term we use to describe the level of FCA authorisation some firms will need to apply for.

We have two categories of authorisation for consumer credit firms: ‘limited permission’ and ‘full permission’. Whether you need to apply for limited or full permission depends on the regulated activities your firm will carry on. Use our step-by-step tool to help you decide (PDF).

Common examples of regulated activities needing full permission

  • credit broking where introducing customers to lenders or brokers is a main business activity
  • credit broking where the sale of goods or services takes place in the customer's home (such a supplier is known as a 'domestic premises supplier')
  • debt administration and debt collection
  • debt counselling and debt adjusting on a commercial basis
  • lending which is not limited permission (such as lending in relation to personal loans, credit cards, overdrafts, pawnbroking, hire-purchase or conditional sale agreements)
  • providing credit information services
  • providing credit references
  • operating an electronic system (peer-to-peer lending)

Application process

You’ll have to supply us with information in a business plan and information about your firm’s activities, history, future plans, financial details, systems and controls and approved persons, among other things. The amount of information expected is more than for a limited permission application.

Example: financial details required

  • State your estimated annual consumer credit income
  • Provide details of your constitution (if applicable) and the different sources of capital, any subordinated loans and/or external funding
  • Attach opening balance sheet, forecast balance sheet, monthly cash flow forecast and monthly profit and loss forecast
  • Attach the most recent annual accounts and management accounts
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