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Mortgage Brokers and PPI
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I agree entirely.Paymentshield dont have to do any due diligence. The courts are not involved and seeing as the PPI issue is an FSA one and not legal, it would be daft to get them involved.
Paymentshield's due diligence will be limited to ensuring the applicant is not on HM Treasury's sanctions list and making reasonable enquiries about identity and avoiding financial crime (which the seller should do as well).
I am a little concerned that a broker would not understand this as it is a fairly basic compliance matter.0
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