Typical questions the FCA ask following an application submission for Full Permission

Below is a list of typical questions FCA case-handlers are asking retailers following receipt of a full permission application. Most of the information should have been included within the business plan you submitted as part of your application, but please be aware case-handlers may still ask and you will still need to respond.

  1. Are your customers aware that finance will be offered to them before they are visited in the home?
  2. Please could you give details of the process by which finance is offered? How are your sales pitched?
  3. Do you target low income consumers?
  4. How do you recognise vulnerable consumers or consumers in financial difficulty and how would you deal with offering them a financial product?
  5. Which Finance Provider other than the Green Deal Finance Company are you planning to use. What role does the lender play in ensuring suitability of the sale?
  6. Do you make unsolicited contact with potential customers, i.e. cold calling/door knocking?
  7. Who in your firm undertakes the sales in the home?
  8. Are your staff offered any performance incentives or payments for making sales?
  9. Where agreements are signed in the home, are customers given time to consider the fees, charges and nature of the finance agreement? If so, how long are customers given?
  10. How do you plan to make customers aware of variable prices for the same goods?
  11. Do you undertake an affordability assessment before offering finance to your customers? If so, what does that entail?
  12. Does your firm undertake any advertising or marketing of its products?
  13. What checks do you plan to make on your staff that are visiting clients in the home, e.g. Criminal Convictions?
  14. Please send a copy of the following: