Is money lend a regulated body.?

I want to open a money lending website. but i dont own much experience in this. I have a few thousand pounds to start stale. but i am wondering do you have to be regulated by anyone?
Answers:
Any form of financial service must be regulated by the Financial Services Authority. Depending on the type of lending you will probably inevitability to comply with the Consumer Credit Act and probably various other law and regulations as well.
Mostly, yes - unless you are lend to limited companies. Consumer Credit Act 1974 and Consumer Credit Act 2006 - unless you managed to generate you credit agreements exempt from regulation because the form of your agreement corresponds with the relevant provisions of the Consumer Credit (Exempt Agreements) Order 1989.

Without looking at your agreements, it is probably safe to assume that you will requirement to be regulated. For that you need to apply to the office of Fair Trading for a License.

There are social lend sites which you might be interested in and will probably assist you assess the risk better. These may negate the need to attain a license. Google them. Lending is a very risky business.
Yes, it is illegal surrounded by the UK to lend money for gain unless you are licensed. I don't know who the regulatory body is, but a call to the Financial Services Authority (FSA) will probably get you the answer.


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