Examples include garages and electrical retailers who should hold a letter of recognition from the credit institution on whose behalf they arrange credit. Credit Intermediaries are currently subject to regulation by the Director of Consumer Affairs. Pawnbrokers, credit unions, credit institutions or mortgage lenders are excluded. Mortgage Intermediaries A mortgage intermediary is any person who arranges the provision of loans by a mortgage lender in return for commission. Examples include mortgage brokers and estate agents.
Pawnbrokers provide loans secured by personal items.
Typically, the borrower has six months to recover the security by repaying the loan. After that date, the pawnbroker may sell the security.