FCA application dates for Consumer Credit

The FCA willbe notifying all firms in the next couple of weeks to explain the three month period when they will be able to apply for full consumer credit permissions.  These dates will depend on the permisions you require and your frm location.  For the majority of mortgage brokers they will only need permission for credit brokering.  

You can see the dates that apply for your firm in the FCA attachement linked here

Just scroll to page 9 to see the table and find your firm type from the list.

Rule change regarding licence categories for mortgage brokers

The FCA has now confirmed that mortgage brokers will not require the CCL categories D and E for debt adjusting or debt counselling.  Previously mortgage brokers required these categories for consolidating unsecured debts on a re-mortgage.   

The change will result in a saving on the application fee as a result of not needed these higher risk categories.  At last some sensible action from the regulator!