Skip to the page Primary Navigation Skip to the page content Skip to page Footer
The OFT closed on 31 March 2014 and this website is no longer being updated. The OFT's work and responsibilities have passed to a number of different bodies. Read more.

Brokerage fees

The Consumer Credit Act limits a credit broker's charges to £5 if, following an introduction to a lender, an agreement is not signed within six months. If more than that has already been paid, brokers must refund the excess on request.

This section of the Act ensures that brokers are only entitled to a nominal fee if they are unable to obtain credit or hire facilities at a price the consumer is prepared to pay.




Back to: Consumer Credit Act

Recently viewed pages

This feature requires Javascript and Cookies to be enabled on your browser

Email alerts

Register for email alerts or amend your existing account details here.