COMMISSION DISCLOSURE
UK ASSET SOLUTIONS
COMMISSION DISCLOSURE
Financial Conduct Authority
The Financial Conduct Authority expects any intermediary to disclose to the customer that a commission may be payable by the owner or creditor to the intermediary, and, if the customer asks, the amount of that commission. The Financial Conduct Authority has made it clear that "commission" means any financial consideration.
Our Service
We are a credit broker. (The supplier who referred you to us if applicable is also acting as a credit broker.) We work with a range of different finance providers, but we don’t have relationships with all lenders in the market.
There will be a number of factors that we could consider when deciding what lender(s) to introduce you to – including the products they offer, your credit status, your requirements in terms of speed of service and flexibility and the commission payable. Because of this, we cannot give you independent or impartial advice, or recommendations about the most suitable finance for you. There could be other suitable finance options available to you, which you should consider before signing any finance agreement we present to you.
Information About Commission
If you decide to go ahead with a finance agreement that we help arrange, the lender will pay us a commission. This commission reflects the work we’ve done, and the costs we incur in helping to arrange the finance. We don’t charge a fee for introducing you to a lender, so our only income for connecting you will be this commission. The payments you make to the lender under the finance agreement will include the commission the lender pays us.
How the commission is calculated: Commission is calculated as a % of the amount that you wish to borrow meaning if you borrow more, then the amount of the commission will also be more. Alternatively, if you borrow less, then the amount of the commission will also be less.
Estimated amount of commission: We anticipate this percentage to be 3-5 % of the advance – you will be advised prior to drawdown (Including commission to be paid to the supplier if applicable).
You will be told the final commission figure before you sign the finance agreement, and you will be asked to provide your consent for the lender to pay it to us before you sign the finance agreement (We will also ask for your consent to pay commission to the supplier if applicable).
If you would like us to disclose any potential commission we earn:
In-line with new legislation, if you would like UK Asset Finance Solutions Ltd to disclose any potential commission please make your request to our head office address on our contact page or by email to info@ukassetsolutions.co.uk or by telephone: 01926 863 550.
About UK Asset Finance Solutions Ltd's Services
1. Who's Products Do We Offer?
UK Asset Finance Solutions Ltd offer products and services from a range of Finance Companies, Banks, Leasing Companies, UK Vehicle Dealerships and Product Providers with whom we have commercial agreements in place. We are a Commission Based Organisation which means that we receive payments for business introductions. We will receive financial remuneration which may be variable or pre-set dependent on the arrangement, product and the volume that we place with that organisation. The amounts that we receive may vary.
2. Which service will we provide for you?
(Question) We will advise and make recommendations for you after we have assessed your needs - (Answer) NO
(Question) You will not receive advice or a recommendation from us. We have provided you with product information enabling you to make your choice about how to proceed - (Answer) YES
3. Who Regulates Us?
UK Asset Finance Solutions Ltd, 1110 Elliot Court, Coventry Business Park, Herald Ave, Coventry CV5 6UB is authorised and regulated by the Financial Conduct Authority.
4. What to do if you have a complaint
If you wish to make a complaint please contact UK Asset Finance Solutions Ltd in writing at our registered office address; 1110 Elliott Court Coventry Business Park, Herald Avenue, Coventry, West Midlands, CV5 6UB and we will be happy to respond. Alternatively; you can contact us by e-mail on; info@ukassetsolutions.co.uk or call us on; 01926 863 550.
If you cannot settle things to your satisfaction with us directly you may be entitled to refer your complaint on to the Financial Services Ombudsman Service.