Initial Disclosure
Document
The Financial
Conduct Authority (FCA)The FCA is the independent watchdog that regulates
financial services. This document is designed to be given to consumers
considering buying certain financial products. You need to read this important
document. It explains the service you are being offered. The core message of
the FCA is to promote best practice in the financial services industry and as
such act as our regulator.
Whose products do
we offer?
We offer a variety
of finance products from a range of providers. we have a panel of lenders which
we act as a broker for. We have no hierarchy of where we put your business
but will always operate on a best value for money basis on your behalf, We also have
specialist finance brokers we utilise when the normal panel of lenders is not
appropriate I.E if you have poor credit we will use these specialist providers
which will act with the same transparency as ourselves
What Credit
Facilities will we provide you with?
We will make no
recommendations for the suitability of the finance product you choose, we will
make you aware of the terms and conditions of the plans we offer , We currently
offer Hire Purchase, Conditional Sale and a different form of hire purchase
called Personal Contract Plan , we will collect information from you to provide
to the finance company and they will either accept , decline or attach special
conditions , they will not discuss to us your credit score or existing
arrangements.
Remuneration
We will make you
aware of any and all commission, documentation fees or introductory commission
we receive. Commission
is specifically calculated as a percentage of the amount borrowed.” Or
"Commission is a fixed fee." This is dependent on the product you
apply for and the provider, of course you will be informed before applying. This does not affect the interest rate you are
charged as this is set by the lender." We will ask for your “informed
consent” for us to proceed with your agreement, you will be given this before
you are allowed to sign any finance agreement.
What will you have
to pay us for our services?
We rely on
commission for setting up finance agreements and will not ask you to pay a fee
for setting up a finance agreement
Who regulates us?
We are authorised
by the Financial Conduct Authority, 25 The North Colonnade, Canary Wharf, E14
5HS. Our Firm Reference Number is …661247 You can check this on the FCA’s
register by visiting the FCA’s
websitehttps://www.fca.org.uk/firms/financial-services-register or by
contacting the FCA on 0300 500 0597
Ownership
Moto GB Limited has been registered
as a limited company since 10th May 2000 and the registered number is 03989635
What to do if you
have a complaint
Most complaints can
be resolved at the dealership, by the General Manager, They will investigate
your complaint and if it’s a regulated complaint, inform you what course of
action you can take , we can provide you with details of your finance company
and contact number for the customer services department . If the lender is not
able to settle your dispute you may be able to refer it to the “Financial
Ombudsman Service, Exchange Tower, London E14 9SR
Are we covered by
the Financial Services Compensation Scheme (FSCS)?
We are covered by
the FSCS. You may be entitled to compensation from the scheme if we cannot meet
our obligations. This depends on the type of business and the circumstances of
the claim. Insurance advising and arranging is covered for 90% of the claim, without
an upper limit. For compulsory classes of insurance, insurance advising, and
arranging is covered for 100% of the claim, also without any upper limit. The scheme does not
cover consumer credit. Further information about the
compensation scheme is available from the FSCF on 0207 892 7300 or by
visiting www.fscs.org.uk