If you're pricing up getting FCA-authorised, a compliance consultant is one route — and the first question is usually "what will it cost?" Fees vary widely, so here's an honest picture of the ranges and what drives them.
Typical fee ranges
For preparing a consumer credit authorisation application — and often handling the FCA's questions too — compliance consultants commonly charge somewhere from around £2,000 to £5,000 or more. Where you land depends mostly on complexity and on how much the consultant actually does. Simple limited permission work sits at the lower end; complex or full-permission applications, or anything involving novel business models, can cost considerably more.
These are ballpark figures, not quotes — always get a written quote and a clear scope before you commit.
What drives the cost
- Scope — advice only, full preparation of your documents, or full handling of the application and FCA correspondence. More hands-on means more cost.
- Permission type — full permission applications involve more scrutiny and more work than limited permission.
- Pricing model — some consultants charge by the hour (so an open-ended total), others a fixed project fee.
- Ongoing support — many also offer monthly compliance retainers after authorisation, which is a separate, recurring cost.
Don't forget the FCA's own fee
Whatever route you choose, the FCA charges its own application fee, paid directly to it — currently around £560 for limited permission, though it's worth checking the FCA's published fees as the categories change. That's separate from any consultant or service fee.
A fixed-price alternative
If your situation is the common one — offering finance as a secondary part of your main business — you may not need an open-ended consultant engagement at all. Our service prepares your complete application pack for a fixed £995: the regulatory business plan, the compliance policies the FCA expects, a financial forecast and submission guidance, tailored to your business and ready in three business days once we have your details. We file it with the FCA and handle their questions for you, with no hourly fees.
To be fair about it: a full consultant can be the right call for genuinely complex or full-permission cases. But for a straightforward secondary-broking application, a fixed-price pack covers what most firms need at a fraction of the cost. See the full breakdown in how much a consumer credit licence costs, or compare the routes in DIY vs using a service.
Frequently asked questions
- How much does it cost to prepare a limited permission application?
With a consultant, often around £2,000 to £5,000 depending on scope. A fixed-price service like ours prepares the complete pack for £995, plus the FCA's own application fee paid to the FCA on your behalf by us.
- Why are FCA consultants so expensive?
They typically do bespoke work and often handle the FCA correspondence, usually charged hourly or as a high fixed fee. That's worth it for complex cases, but can exceed what a simple application requires.
- Do I have to use a consultant to get authorised?
No. You can apply yourself, use a fixed-price service, or engage a consultant — there's no requirement to use one. The right choice depends on complexity, budget and how much you want to hand over.
- What do I get for £995 versus a consultant?
A complete, tailored application pack — business plan, the expected compliance policies, a financial forecast and submission guidance — at a fixed price. A consultant may also manage the FCA correspondence for you, which is part of why their fees are higher.
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.