The honest answer is: it depends mostly on you. The FCA works to statutory deadlines, but how quickly you actually get authorised is driven by how complete and well-evidenced your application is — and how fast you respond when the FCA asks questions.
The statutory deadlines
The FCA works to statutory long-stop deadlines set by the Financial Services and Markets Act — the latest point by which it must decide — and those deadlines run from the date it judges your application complete, not from the day you first hit submit. The long-stop is a legal backstop, not the experience of a well-prepared application, and the FCA does not commit to a date for any individual case.
What it means in practice
In reality a straightforward application is decided well inside the long-stop, and limited permission applications — the route most secondary credit brokers take — are generally assessed more quickly than full permission, because the activity is lower-risk. But "faster" is never guaranteed, and a weak application can drag the process out considerably.
What slows an application down
Almost every delay traces back to the same few causes:
- Gaps and inconsistencies that trigger the FCA to come back with questions;
- Generic, templated documents that don't reflect how your business actually works — the FCA looks for firm-specific substance;
- Slow responses to the FCA's information requests, which pause the clock while they wait for you.
How to keep yours moving
The single best thing you can do is submit a complete, accurate, firm-specific application from the start, and respond quickly to any FCA queries. That's exactly what a well-prepared pack is for: a clear regulatory business plan, the policies the FCA expects, and consistent figures, all tailored to your business. Our step-by-step guide covers the full journey, and our cost guide breaks down the fees.
Worth separating two timelines: we prepare your complete application pack in three business days once we have your details. The FCA's review is separate and in their hands. We make sure what you submit gives that review the best possible start.
Frequently asked questions
- Can I speed up FCA authorisation?
You can't shorten the FCA's statutory review, but you strongly influence it: a complete, well-evidenced, firm-specific application avoids the back-and-forth that causes most delay, and responding quickly to any questions keeps the clock running.
- Does limited permission take less time than full permission?
Usually, yes. Limited-permission activities are lower-risk, so they generally face less scrutiny and are assessed more quickly than full-permission applications — though timelines are never guaranteed.
- Can I trade while I wait for authorisation?
Generally no. A new firm is expected to be authorised before carrying on the regulated activity, so you shouldn't rely on being able to offer finance while your application is pending.
- When does the FCA's clock actually start?
From when the FCA considers your application complete — not from your first submission. Missing information effectively pauses the clock, which is why completeness at the outset matters so much.
This article is general information to help you understand the process, and is not legal or regulatory advice. CreditLicence is a regulatory consultancy; it is not authorised or regulated by the Financial Conduct Authority, nothing it provides is regulated advice, and it is not affiliated with, endorsed by, or acting on behalf of the FCA. FCA rules can change; always check the FCA's website for the current position.