CONC 4.4 Pre-contractual requirements: credit brokers

This section applies to a firm carrying on credit broking in relation to a regulated credit agreement.

1. (1)

   A firm must disclose to the customer the fee, if any, payable by a customer to the firm for its services.

   [Note: section 160A(4) of CCA]

2. (2)

   Any fee to be paid by the customer to the firm must be agreed between the customer and the firm, and that agreement must be recorded in writing or other durable medium before a regulated credit agreement is entered into.

   [Note: section 160A(4) of CCA]

3. (3)

   A firm must disclose to the lender the fee, if any, for its activity payable by the customer for the purpose of enabling the lender to calculate the annual percentage rate of charge for the credit agreement.

   [Note: section 160A(5) of CCA]

4. (4)

   A firm must disclose to the customer how and when any fee for its service is payable and in what circumstances a refund may be payable, including how and when a refund is available under section 155 of the CCA.

   [Note:paragraphs 2.2 and 4.17b of CBG]

[Note: article 21(b) and (c) of the Consumer Credit Directive]