New Legislation? home collected loans

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Hi all

Interested to hear comments about this new legislation, suprised not to see a thread already about this. >> Specific to home collected loans/credit

As of 21st August it is a legal requirement to comply with the following:

Any web or email content that states a specific APR must also display the following statement in the "same size font as the APR and have greater prominance".

"Compare the price of home collected and other cash loans available in your area at www.lenderscompared.org.uk"

Obvious issues of potential leakage here and the future development of the Lenders Compared: An Independent Site site once the authorities figure out they can actually make revenue from the site, AND on some initial tests of the site they have merchants listed that are already on our sites, so we by legislation have to put up a link to this site?seems crazy

Its like a Window company, paying money for advertising, getting the customer in his showroom, selling his product and service to them but as they are about to sign he HAS to by legislation say stop dont give me an order, look at what my competitors have to offer first lol

Is it me? hmmmm

Neil...

[peracto]

Hi all

Interested to hear comments about this new legislation, suprised not to see a thread already about this. >> Specific to home collected loans/credit

As of 21st August it is a legal requirement to comply with the following:

Any web or email content that states a specific APR must also display the following statement in the "same size font as the APR and have greater prominance".

"Compare the price of home collected and other cash loans available in your area at www.lenderscompared.org.uk"

Obvious issues of potential leakage here and the future development of the Lenders Compared: An Independent Site site once the authorities figure out they can actually make revenue from the site, AND on some initial tests of the site they have merchants listed that are already on our sites, so we by legislation have to put up a link to this site?seems crazy

Its like a Window company, paying money for advertising, getting the customer in his showroom, selling his product and service to them but as they are about to sign he HAS to by legislation say stop dont give me an order, look at what my competitors have to offer first lol

Is it me? hmmmm

Neil...

Neil

Think there was a post last week on this subject, possibly the week before. I'll see if I can find the URL for you...

Jules
Peracto