What is the process for second charge firms and authorisation?

The FCA and the Government will consult on the longer term regime for second charge mortgages once there is greater clarity on the outcome of the Mortgage Credit Directive. This will determine what the process will be for authorisation for second charge firms. Second charge firms should still register for interim permission under the consumer credit regime, and new entrants to the second charge market from April 2014 (who do not hold a CCA licence and cannot get an interim permission) will need to apply for full consumer credit permission.

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