BrightHouse's activities are regulated under the Consumer Credit Act.
BrightHouse’s Consumer Credit Licence was due for renewal on the 15th July 2010. The licence was issued in perpetuity by the OFT in August 2010.
The Consumer Credit (EU Directive) Regulations 2010 came into force in 2011. This imposed changes to the layout of the Credit Agreement, pre-contractual information, credit advertising and the presentation of APR’s. It also introduced new rights for consumers – 14 day right to withdrawal, right to amortisation statements and a right to make post early repayments.
BrightHouse applied the required changes to its procedures and training prior to the deadline 1 February 2011.
© BrightHouse Limited 2012