1MCOB 3A (financial promotions etc) applies to a firm which is a P2P platform operator communicating or approving a financial promotion of a P2P agreement which is a home finance transaction where the lender or provider does not require permission to enter into the transaction. It applies as though references to qualifying credit were references to agreements that would be qualifying credit but for the lender not carrying on regulated activity by entering into or administering a regulated mortgage contract.
references to administering a regulated mortgage contract, administering a home purchase plan and administering a sale shortfall include a P2P platform operator administering such an agreement or shortfall on behalf of a lender or plan provider. References expressing the same concept but using different tenses are similarly included; and
references to a firm taking any action against a customer include where the firm takes action required by a security trustee holding rights for a lender or provider under a regulated mortgage contract or home purchase plan.