Apply for new credit licence
If your business carries out activities relating to consumer credit or hire you may need a credit licence.
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Things you should check before applying for a licence
To save yourself time and money, before you apply for a licence we recommend you check:
- whether you still need a credit licence or not
- the licence fee and how much you have to pay
- the name(s) you are seeking to include in your licence
- you have all the information and supporting documents necessary to complete the application forms
- what happens to the money you have paid if you cancel your application or if a licence is refused.
Which category of licence do you need?
Credit activities fall into a number of categories. When you apply for a licence you will need to tell us which categories apply to your business. The categories are:
- Category A - consumer credit business
- Category B - consumer hire business
- Category C - credit brokerage
- Category D - debt adjusting
- Category E - debt counselling
- Category F - debt collecting
- Category G - debt administration
- Category H - provision of credit information services (whether or not it includes or excludes credit repair and if on a commercial or non-commercial basis)
- Category I - credit reference agency.
For more detailed information on the activities that fall into each category, see Do you need a credit licence?
If you apply for a Category A licence, you may also need to register with the OFT for under the Money Laundering Regulations, check if you need to be registered.
For more information on the specified descriptions of businesses see General Notice 72 - Specified descriptions of business (pdf 47kb).
Is your business high risk?
Some credit activities have been identified as being of higher potential risk to consumers. If your business is high risk you will have to fill in additional forms and may be subject to on-site inspections. Find out if your business is high risk.
The online application form
Before you start filling in the online application form we recommend you:
- check you have all the information and documents you need to be able to fill in the form
- know how to complete the form
- know how to make a payment
- check if your business is high risk and if you have to fill in additional forms.
Start a new application (this link takes you to an external website)
For more information, see General Notice 71 (pdf 223kb)
If you are having problems please contact the Enquiries team on 08457 22 44 99 or email enquiries@oft.gsi.gov.uk. The office is open from 9am-1pm and from 2pm-5pm.
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