Every Loan › How to check a lender is FCA authorised
How to check a lender is FCA authorised
Most firms that lend money or arrange credit in the UK must be authorised by the Financial Conduct Authority. A two-minute check can protect you from scams and illegal lenders.
Why it matters
Authorised firms must follow FCA rules on affordability, fair treatment, clear information and complaints. If you borrow from an authorised firm, you can use the Financial Ombudsman Service if there is a dispute. An unauthorised firm offers none of that, and some are loan sharks or scammers.
Step by step
- Go to the FCA's Firm Checker (the Financial Services Register) by typing the FCA address yourself, not by following a link in an email, text or advert.
- Search for the firm by name.
- Select the product or service you want and confirm the firm is authorised with permission for it (for borrowing, consumer credit lending or credit broking).
- Compare the address, phone number and website on the register with what you were given. If they do not match, stop.
- If the details do not match, or none are listed, call the FCA on 0800 111 6768. Contact the firm only on details shown on the register, not those in the message you received.
Clone firms
Scammers sometimes copy the name and reference number of a real authorised firm, but give their own phone number, email or website. The FCA says clones may copy the firm's name, address or firm reference number, use a near-identical website, or use look-alike email addresses. If the contact details you were given are different from those on the register, treat it as suspicious. You can report suspicious firms to the FCA on 0800 111 6768 or through its online form.
Red flags
- A guarantee of a loan whatever your credit history.
- A fee requested up front before any money is paid out.
- Pressure to decide immediately.
- Contact out of the blue by text, social media or cold call.
- Payments requested by gift cards, crypto or to a personal account.
An advance fee for a loan is a well known scam pattern. A genuine lender does not ask you to pay in advance to release a loan, although a broker may charge a fee for its service, which must be made clear in advance.
What if the firm is not on the register?
Do not send money or personal details. If you are already involved with an illegal lender, see our loan sharks page. You can report it to the FCA and, if you have lost money, to the police fraud reporting service or Police Scotland (see the FAQ).
Authorised does not mean right for you
The register shows a firm is regulated, not that its product is suitable for you. You should still check the total cost and understand your rights.
Other types of firm
The same register covers credit brokers, debt management firms and many other regulated businesses. Credit brokers connect you to lenders, and they should tell you clearly whether they charge a fee, and whether they work with a limited range of lenders. Debt management firms need separate permissions. If a firm says it is "FCA registered" without explaining its permissions, look at the register entry closely, because registered and authorised are not the same, and some entries only allow limited activities.
Reporting a problem
If you find a firm that is not authorised, or one that looks like a clone, you can report it to the FCA. If you have already paid money, tell your bank straight away and report it to the police fraud reporting service. A quick report can help protect other people.
This is general information, not financial advice. We're not a lender or broker and don't arrange credit.
Frequently asked questions
What is the FCA register?
It is the FCA's public list of authorised and registered firms, searched through its Firm Checker.
Can an unauthorised firm legally lend?
Generally no. Most consumer credit lending and credit broking needs FCA authorisation.
What is a clone firm?
A scam that copies a real authorised firm's name or reference number but uses different contact details.