The advice you got is a bit out of date. You now need to apply for permission with the FCA. https://www.the-fca.org.uk/fees-and-levies-consumer-credit You will need limited permissions for credit broking, debt adjusting and debt counciling (for repaying debt on part-ex). It's not zero work and then you ned to keep up all of the paperwork for the FCA. When it comes to lenders, they like clean cars, a good track record and are focussed on dealers who dont have complaints. You need to get agreements in place with a few lendre sto serve, prime, near prime and subprime customers as each one has advantages and disadvantages. If you don't want the paperwork or to register for the FCA consider recommending your clients to a smaller broker who will help you keep the customer.
