UK Secured Loan Leads for sale

[Michael_Anthony]

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As a result of huge growth in our business over the past three months, we are now experiencing a surplus of UK Secured Loan leads. We are the largest producer of these leads in the UK and currently generate over 8,000 per month.

Our existing customers are obtaining conversions of around 14% (application to completion) from these leads. Our customers include...

Loans.co.uk
Freedom Finance
Ocean Finance
Picture

All leads are generated by Consumer Credit Licensed affiliates from paid and free search. We do not use incentive sites, call centres or any other low quality techniques. Leads are exclusive and delivered within seconds of being received.

The online forms we use to collect leads have been developed by working in conjunction with our customers for over three years - all fields and criteria are a result of our continual learning from historic data analysis.

If you are a merchant or agency and need more volume in this market, please contact our Merchant Headmaster at http://www.affiliate-marketing-schoo...d=16&Itemid=36

We also supply finance leads in many other markets including IVA's, Debt Management, Mortgages, Remortgages, Right to Buy, Commercial Mortgages, Bridging Finance, unsecured loans and car finance. Again, if interested, please contact us using the link above.

[teabags]

"All leads are generated by Consumer Credit Licensed affiliates from paid and free search."

Can you expand on this please, are you saying that all your affiliates have a CCL licence or that they use your CCL. Does the applicant know which one of your merchants they are applying for?

We would be very interested in receiving applications generated on our application form.

[Stuart]

I would also be interested to know more about

"All leads are generated by Consumer Credit Licensed affiliates from paid and free search."

What are the advantages of an affiliate obtaining a CCL - this makes you a broker does it not...!?

[Michael_Anthony]

We have a "blanket" CCL which covers all of our members' sites.

[drivetowin]

Michael

I still don't understand how a blanket CCL can work - a CCL is issued to an individual trading name so how can it cover a multitude of sites? - not saying you're doing anything wrong, I'm just curious as to how you've got this to work - answer me by PM if you don't want to disclose things here.

As far as I'm aware the only blanket CCLs were issued to cover the financing of bikes for employer's bike to work schemes

[Michael_Anthony]

You can have unlimited trading names on a CCL.

[drivetowin]

Ah right, didn't realise that - thanks for clearing that up.

[teabags]

The only way this can work is that, the-lead-clearing-house is acting as a broker to their merchants, If they were not the broker, then the applicant would need to apply to the merchants application form, carrying the merchants own T/C’s.

The lead-clearing-house must hold a CCL and be registered with the FSA due to the products that they are advertising (products against ones house) The application form that the lead-clearing house must insist that all affiliates carry on their sites, must make it clear which broker the applicant is applying too and have all the compliance warnings clearly in the T/C’s, including CCL numbers, FSA membership and company number.

Affiliates should be aware that they are not covered by a blanket CCL, the T/C’s must carry the brokers company info (not the affiliates). If an affiliate has not got a CCL then he can only advertise finance products on his/her site, he can not collect the application, then pass it on to the highest bidder, due to the brokers or merchants T/C’s having to be displayed.

It is true that a CCL can have numerous “not unlimited” trading names added to a licence, however these trading names must be part of the individual trading company. Just like drivetowin stated. Only a suggestion here: but maybe you need to explain to your affiliates in more detail why they may not be covered, due to the heavy fine or imprisonment that this serious issue levies.

A company who turns over 30 million dollars per annum, in the secured/mortgage industry must have a team of compliance experts, if you don’t I will be happy to recommend one that works very closely with the FSA..

[Keith]

As CCL's don't cost an arm and a leg it makes sense for anyone collecting sensitive information to get their own http://www.oft.gov.uk/advice_and_res...pplying#named1 better to be safe than sorry

[Michael_Anthony]

teabags - Secured Loans are not regulated by the FSA - current FSA legislation only covers first charge business. We are quite happy with our existing compliance expertise, but thanks for the offer.

[teabags]

You stated in your first post on this thread, that you offer mortgage, re-mortgage and right to buy applications, as well as secured loan applications. Secured loans (second charge) are covered by the FSA as well as mortgages, re-mortgages, right to buy, in-fact the general rule of thumb is: any product which is secured on ones home.

I am sure your merchants, loans.co.uk, Freedom Finance, Ocean Finance and Picture will be very interested to learn that they don’t have to spend thousands of pounds each year, jumping through the hoops the FSA set, on compliance, you obviously get over these rules by the duvet licence.

[marky]

teabags, Secured / Second charge loans are regulated by the OFT, not the FSA. I think 2nd charge loans over 25k are still currently unregulated. (second charge under £25k has a 14 day quiet/no contact period (can't remember jargon) over £25k doesn't)

Where there is a crossover is when you are already an FSA authorised and regulated company (due to your other product range) or are a broker/packager looking to sell loan insurance at the same time, which is an FSA regulated product.

To introduce secured loans as a lead generator a CCL (consumer credit license) & DPA (notification of data treatment under Data Protection Act) is sufficient from a regulatory perspective.

[teabags]

The point I was trying to make “maybe not very well” was the lead clearing house offer a wide range of products under their CCL, these include first charge products. This means that as a broker, they will have to be covered by the FSA, then by default the secured will as well, as a FSA registered broker.

Advertising these products, is a major part in the compliance of both the FSA and OFT, typical APR, postal address, name of broker, are just a few compliance rules. If a broker generates 8000 application each month within this industry, then they would be “by far” the biggest secured/mortgage broker in the UK. My concern is how these leads are generated, affiliates need to know that, the applicant has to have freedom of choice on who to apply with. The application forms T/C’s have to show this.

[Michael_Anthony]

"My concern is how these leads are generated"

Why?

[teabags]

Why?

Read the thread!