Consumer credit

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Gateley Legal

The consumer credit landscape has been in a state of flux for some years – and continuing legal and regulatory developments show no sign of this slowing up.

The consumer credit arena has seen huge change over the past five years. This has fundamentally altered the way that lenders and lessors do business in this important market. Our lawyers can help you successfully navigate this complex and rapidly developing area of law, together with litigation and contentious regulatory advice.

What do we do?

We are one of a small number of law firms in the UK that have specialist expertise in consumer credit work.

When it comes to financial products and consumer credit, we provide expert end-to-end advice on everything from regulated credit and hire agreements, regulatory compliance, and FCA authorisation, through to the successful recovery of money and/ or assets if things go wrong. We are able to handle both contentious and non-contentious consumer credit work within a specialist single team.

We handle the entire range of issues that affect this highly-regulated sector, including:

  • preparing standard and bespoke regulated credit and hire agreements;
  • drafting security documents;
  • advice on default, enforcement and termination;
  • FCA authorisation, reporting requirements, change of controller;
  • financial promotions compliance, including website and online activities;
  • section 75 and 56 claims and enforceability challenges;
  • unfair relationships.

As well as ensuring that your documentation is up to scratch and meets all the demands of the legislation, we will help you make sure that your business procedures are also fully compliant.

We have an intimate understanding of the thinking of the Financial Conduct Authority (FCA) and real insight into how to navigate the continually evolving regulatory landscape.

We’re active members of both the Consumer Credit Trade Association and the Finance and Leasing Association.

Adept at handling mis-selling and misrepresentation claims, security enforcement and consumer credit challenges.
Chambers UK, 2019

Who do we help?

We act for a wide variety of funders, short-term lenders, clearing banks and challenger banks. We also advise specialist lenders including short-term high-cost lenders and leasing companies, who make regulated and unregulated facilities available to businesses and consumers.

We can also help businesses who offer goods or services payable by instalments to consumers which may potentially be caught by consumer credit legislation. Clients we have recently worked with include national housebuilders, retailers and football clubs on their instalment payments scheme for season ticket purchases.

Got a question? Get in touch.