Operating from the historic Biggin Hill Airport site, Uncle Buck Finance LLP should know a thing or two about landing slots and the importance of accuracy and timing here. The business has confirmed it has submitted its application for Full Permission to enter into High Cost Short Term Credit (HCSTC) agreements, carry out the rights and duties of a lender in HCSTC agreements, and act as a credit broker.
The “landing slot” for most HCSTC lenders ends on 28 February 2015, and the rules are clear: – if an application has not been submitted by this time, lenders cannot continue to trade, or collect out on their book, and their interim permission will expire.
Uncle Buck now awaits the FCA’s assessment of its application. The FCA are required to determine complete applications against its threshold conditions within 6 months, and incomplete applications within 12 months. Until that time, Uncle Buck has Interim Permission (number 640978), this can be checked on the FCA’s Consumer Credit Register