OFT approval: Payday loan comparison website.

[jasongaussn]

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Hello All,

We are contemplating venturing into the payday loan affiliate programmes, and we were wondering if OFT approval is required to run a site which compares payday loans.

Our strengths are in technical stuff: web design, SEO etc.. and we would want to launch a payday loan comparison site to start off with. Is an OFT approval required for this?

Many thanks.

Best regards,
Jason.

[thmpaydayloans]

Hi Jason

You will need a Consumer Credit Licence from the OFT to compare payday loans - link removed
See Credit licensing.

We used Link Metric - Online Marketing to get our site up to compliance and complete our application for us.

Cheers
Tom

[Tomsk]

If as a result of the site you generate leads and then pass them on to lenders, you will need a Consumer Credit Licence and depending on how you store any data, a Data Protection Licence.