Hello and welcome again. Thank you for your follow up reply.
There is difference of interpretation here. Let me explain. What you have read has to be read in conjunction of Person A's activities.
The most important point here is that Person A regularly indulges in this. Creating a first charge is interpreted as a one off transaction. Or else, even regular money lenders who has lending as a business and who are the first charge creaters would stand exempted. Which is obviously not the case.
In this case, the Person A is deemed money lender as he is does this FREQUENTLY and charges commercial interest. This would be a deemed business income and anyone who is a professional money lender would require licensing.
Having said this, I draw your kind attention to the following link, in whose definition person A falls. It says ".............If you or your business sells goods or services on credit, offers goods for hire or provides debt counselling or debt adjusting services to consumers, you almost certainly need to be licensed by the OFT............"
Having said this --
the above shall apply ONLY if he is giving money which in turn is sourced from somewhere else. In that case he shall require "category C, 'Credit brokerage'. License.Further to this,
if he is lending is own money, then he will not require license under CCA. IN THIS CASE, he would be regulated by FSA- Financial Conduct Anthority. Refer :
The botXXXXX XXXXXne is -- he cannot do such business without licensing. If he is lending his own money, he HAS to be regulated and licensed by FSA. If he is securing you money sourced by third party,he would require "category C, 'Credit brokerage'. License under CCA. BUT HE CANNOT continue unregulated and unlicensed.I am sure this would help. You may please leave a positive rating if this helps as this ist the only way we get compensated for assisting you. Alternatively please feel free to reply back if you need further assistance.