FCA consumer credit authorisation: fees and how to apply

If your business carries out credit broking, or most other consumer credit activities, in the UK, you generally need to be authorised by the Financial Conduct Authority (FCA) first.
Which permission you need - limited or full - and what it costs depends entirely on how central credit broking is to your business and how complex your activities are, from £560 for the simplest limited permission up to £11,260 for the most complex full permission applications.

This guide explains the difference between limited and full permission, the FCA's fee categories, the application process through Connect, and roughly how long it takes.

This is general information, not regulatory or legal advice. FCA authorisation is a genuinely complex, activity-specific process with real consequences for getting it wrong - for anything specific to your business, use the FCA's own guidance or a financial services compliance consultant or solicitor.

Do you need FCA consumer credit authorisation?

If your business carries out a "regulated activity" under the Financial Services and Markets Act 2000 in relation to consumer credit - most commonly credit broking, but also lending, debt collection, debt administration or hire agreements - you need FCA authorisation before you start.

Common examples include retailers and car dealers who introduce customers to finance providers, brokers who arrange loans, and businesses offering "buy now, pay later" or hire purchase agreements - even if credit broking is only a small part of what you do.

Limited permission vs full permission

Which category you fall into depends on how central credit-related activity is to your business, not on your size.

	Limited permission	Full permission
Typical fit	Credit broking as a secondary activity connected to selling goods or services (for example, a retailer or garage), not your main business	Credit broking or lending as a main business activity, or where you hold other FCA permissions already
Home-collected credit	Not eligible - excluded from limited permission	Required
Debt collection or administration	Not eligible - excluded from limited permission	Required
Application process	Shorter, lighter-touch	Fuller assessment, including business plan and financial forecasts

If any of the full-permission triggers apply to you - it's your main business, you collect debts, you lend directly, you visit customers' homes to sell credit, or you already hold other FCA permissions - you need full permission, not limited. Source: FCA guidance on becoming a consumer credit broker, checked 23 August 2026.

How to apply, step by step

1. Confirm whether you're carrying out a regulated activity at all, and if so, which one(s) - credit broking, lending, debt collection or hire, for example.
2. Work out whether you need limited or full permission, using the table above.
3. Register for the FCA's Connect system, which is how all authorisation applications are submitted.
4. Prepare your application, including your application form, and for full permission a business plan and financial forecasts.
5. Pay the application fee for your category - see the cost breakdown below.
6. Submit through Connect and respond to any follow-up questions from your FCA case officer.
7. Once authorised, meet your ongoing FCA obligations, including the Consumer Duty and your annual FCA fees.

What does FCA consumer credit authorisation cost?

The FCA charges an application fee based on which pricing category your application falls into - and it's non-refundable even if you withdraw or the FCA refuses your application.

✓ Fees verified against the FCA's published fee tariff, checked 23 August 2026

Once authorised, you also pay ongoing annual FCA fees and, if applicable, Financial Services Compensation Scheme and Financial Ombudsman Service levies - these are separate from the one-off application fee above and depend on the size and nature of your regulated business.

How long does it take?

Processing times vary considerably by application complexity and how complete your submission is, so we haven't quoted a single figure here rather than repeat an unconfirmed number - check the FCA's current published statutory and target timescales for your specific application category before committing to a launch date.

The FCA has statutory maximum determination periods under the Financial Services and Markets Act 2000, but its actual decision times can be considerably shorter, or take longer for incomplete or complex applications - always check directly with the FCA rather than assume a fixed number of weeks.

Frequently asked questions

Do I need FCA authorisation if credit broking is only a small part of my business?

Possibly yes, but you may qualify for the lighter-touch limited permission rather than full permission, provided credit broking isn't your main business, you don't collect debts, and you don't sell credit in customers' homes.

How much does FCA consumer credit authorisation cost?

£560 for limited permission (Category 2); for full permission, £1,130 for straightforward applications (Category 3), £5,640 for moderately complex applications (Category 5), and £11,260 for complex applications (Category 6).

Is the FCA application fee refundable if I'm refused?

No. The FCA's application fee is non-refundable, whether your application is refused or you withdraw it yourself.

What's the difference between limited and full permission?

Limited permission suits businesses where credit broking is a secondary activity connected to selling goods or services; full permission is required if credit broking or lending is your main business, you collect debts, you sell credit in customers' homes, or you already hold other FCA permissions.

How do I actually submit my application?

All FCA authorisation applications, including consumer credit ones, are submitted through the FCA's Connect system, where you register, complete the relevant application form, and pay your application fee.

apply for licence is an independent guide and is not affiliated with, endorsed by, or connected to the Financial Conduct Authority, GOV.UK or any government body. This page is general information, not regulatory or legal advice - for anything specific to your business, contact the FCA directly or a financial services compliance consultant or solicitor.