Citizens Advice Bureau Jersey

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Consumer Lending - Code of Practice

Extent: Jersey
Updated 11 June 2019

Words you may need to know

Code – this is a list of behaviours or procedures that people agree to follow

Consumer – This is someone who buys something (goods) or uses a service such as hairdressing, taxis

Voluntary – This is something that someone does without having to, they just agree to do it

Code of Practice – this is a way of working or doing things that sets a standard to follow

Lender or Brokers – this is someone who gives something (usually money) but expects to get it back, (usually with interest, e.g. more money)

Scope – what is covered

Subscriber – a person who has signed up to a code and agreed to follow it.

Abide by -  do as it says.


The Code of Practice for Consumer Lending

This is a voluntary Code of Practice which aims to:-

1. Make sure that Jersey consumers are fully aware of, and understand, the terms under which they borrow money;
2. Make sure that Jersey lenders, brokers and financial advisers get the right information about borrowers so that they do not loan money if the person borrowing won’t be able to pay it back; and
3. Helps to promote and encourage sensible lending.



The Code applies where Jersey consumers enter into a formal agreement and this includes personal loans, mortgages, hire purchase agreements and overdrafts. The people who sign up to it will also abide by the Code's standards about lending arranged through a third party ( ie if the lender is using someone else’s services to carry out the agreement), whether that other third party has signed up to the Code or not.

The Code of Practice does not apply to money borrowed for business or if the sum to be borrowed is £500.00 or less.

The Code and the list of subscribers does change from time to time. The latest version is updated on the Trading Standards web site at