The UK consumer credit market encompasses a wide range of business models. It is subject to an equally wide-ranging body of regulations designed to protect consumers. Navigating this regulatory landscape can prove tricky. Not least because of the sheer number of rules, regulations, exclusions and exemptions affecting regulated firms and those who operate on the fringes of consumer credit regulation.
Our Credit team have experience across a wide range of consumer credit models including:
We can support you with any aspect of consumer credit compliance. We take a practical, pragmatic approach, working closely with you to develop regulatory compliance processes and solutions that support your business as it develops and grows.
We offer a bespoke service. That means we’ll work with your team to provide whatever service or mix of services you need. Based on previous engagements, that could include:
We work right across the credit spectrum. From smaller boutique firms to large established fintechs, from start-ups to firms with a broad range of permissions already in place, we’ll tailor our service to your commercial and regulatory goals.
Not sure whether you fall within regulation?
Given the huge scope of consumer credit regulation and its complex array of exemptions and exclusions, it can sometimes be hard to identify whether and where your products fall within the scope of FCA regulation.
Businesses like invoice financing firms and firms offering repayment plans for their services need to follow certain rules to remain definitively outside the scope of regulation.
Our expert team can carry out an in-depth review of your structure, systems, and procedures to determine whether an existing product or a new one you’re bringing to market falls within scope.
We can also provide best-practice support for unregulated aspects of your business that could benefit from raising awareness of where the rules kick in, or from a precautionary process review.