This charter sets out the standards required for companies that wish to apply and join Pingtree Ltd as a purchaser of leads.

This charter gives consumers the confidence that their loan application will only be sold onto an appropriately FCA authorised company. Copies of this charter will be published on our website or at our business premises (available on request).

We are committed to the terms of this charter which means companies that do not comply with our standards will not be accepted as a purchaser of leads and we will inform them of our decision and the reason(s) for it. We will also give them the opportunity to reach the standards required and resubmit their application should they wish to do so.

We will actively manage and monitor the terms of this charter to ensure they are adhered to.

The Charter

When evaluating the application for a company to join Pingtree Ltd as a lead purchaser, we will:

  1. Act quickly, fairly and responsibly in all our dealings with the company.

  2. Ensure the company is appropriately authorised to provide the required consumer credit or financial service applied for. We will do this by completing a due diligence process which will include confirmation the lender can demonstrate:

    a. The company is registered on the FCA register.
    b. The company has the correct FCA permissions to undertake their regulated activity
    c. The FCA register lists all relevant trading names
    d. A current Data Protection certificate is in place and all relevant trading names are shown on that certificate.
    e. A Treating Customers Fairly Policy is in place
    f. A Responsible Lending Policy is in place
    g. The correct contact details are shown on its website for each trading style
    h. A complaint handling process is in place

  3. Advise the company whether they have been successful with their application within a reasonable period of time.

  4. Successful applications will be formalised by a legally binding contract.

  5. Advise the company of the reason(s) for an unsuccessful application.

  6. Give the company an opportunity to reapply once they have addressed the reason(s) for an unsuccessful application.

  7. Provide the company with a point of contact for compliance, commercial activity, day to day management and reviews.

  8. Reserve the right to suspend any company from the Pingtree should we find the need to do so. In these cases we will advise the company the reason for the suspension.

    We will not:

    a. Become involved in any way with the decision making process to decide whether the customer is suitable for a loan or other financial service product.
    b. Undertake any suitability or affordability checks on behalf of the company.
    c. Receive any commission for the sale of a product.

Download PDF copy of the lender charter