Jurisdiction(s):
United Kingdom

Key definition

Consumer definition

What does Consumer mean? A consumer is, in practice, an individual who acquires goods, services or digital content for personal use, not for the purposes of a trade, business, craft or profession. The precise meaning is statutory and context‑specific. England & Wales and Scotland: The Consumer Rights Act 2015, s2(3), defines a consumer as an individual acting for purposes wholly or mainly outside their trade, business, craft or profession (capturing mixed‑purpose purchases where the business purpose is not predominant). The Unfair Contract Terms Act 1977 instead asks whether a party “deals as consumer”, a distinct test relevant to exclusion and limitation clauses. The Sale of...

Post-contract obligations under FCA CONC 6 and CCA 1974 for UK consumer credit: overdraft disclosures, appropriation, assignment, pawnbroking, credit cards, BNPL, interest increases, refinancing, HCSTC, credit brokers

Published by a LexisNexis Financial Services expert

Practice notes

This Practice Note examines the obligations that arise after contract for firms undertaking Consumer credit activities. In particular, Chapter 6 of the Financial Conduct Authority’s (FCA) Consumer Credit sourcebook (CONC 6), read alongside relevant provisions of the Consumer Credit Act 1974 (CCA 1974), sets out rules and guidance on post‑contract Requirements, covering the information to be given to consumers, rules on appropriating payments received from a customer, the assignment of rights under a Consumer credit agreement, conduct of business for pawnbroking, and post‑contract business practices. CONC 5 likewise contains rules and guidance on responsible lending, including the need to carry out a creditworthiness assessment before increasing the credit available under a credit Agreement. For further details on CONC 5, see Practice Note: Responsible lending requirements—CONC 5. For guidance on the right to withdraw from or cancel a consumer credit agreement, see Practice Note: Cancellation and withdrawal provisions for consumer credit and hire agreements.

What are post-contract requirements?

‘Post‑contract requirements’ is a collective term for the rules governing information that lenders must provide to borrowers throughout the life of a regulated credit agreement. Some information must be supplied at set intervals, while other information must be given at such times as...

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Web page updated on 21/05/2026

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