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THE LENDING CODE

This is a voluntary code of practice which sets standards for financial institutions including debt collection and debt purchase firms to follow when they are dealing with their personal and small business customers in the United Kingdom.  It provides valuable protection for customers and explains how firms are expected to deal with them day-to-day and in times of financial difficulties.

The Lending Code covers subscribers dealings with:

  • Consumers

  • Micro-enterprises (enterprises that employ fewer than 10 persons and have a turnover or annual balance sheet that does not exceed €2 million

  • Charities with an income of less than £1 million

The Code covers:

  • Current account overdrafts

  • Loans

  • Credit cards

  • Lending to micro-enterprises and charities

The Code does not apply to non-business borrowing secured on land or to sales finance

Guide to the Code:

Short guides to the Lending Code are avaliable

Click here for a guide for personal customers

Click here for a guide for micro-enterprise customers

The Code is sponsored by:

  • The British Bankers’ Association

  • The Building Societies Association

  • The UK Cards Association

 


 
IMPORTANT LINKS

THE LENDING CODE

Current version March 2011 Revised December 2013.

Click here to view

THE UK CARDS ASSOCIATION

View best practice guidelines.

Click here to find out the companies and organisations who have signed up to the Codes.

WHO SUBSCRIBES?

Find out which organisations have signed up to the Code.