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Registration with FSA


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Hi,

After a heated phonecall with FLM Loans, they claim infatically to NOT be registered with the FSA, although they appear on the register under "names" for their holding company. I even got the guy on the phone to go to the FSA website and check for himself, he still denies FLM are bound by the FSA regulations.

 

Now, 'scuse me if I'm being thick here, but don't a loan company need to be registered with the FSA? I may have misunderstood, but I believed that any loan company would need to be registered to carry out their business.

 

Regards,

Andy

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Hi

 

My understanding is that a loan company only have to be registered with FSA if they are doing "regulated business" such as advising on or bringing about regulated first charge mortgages.

 

If not they only have to have a consumer credit licence and you can check that on the public register of consumer credit licences

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