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 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
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. 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. we
typically receive a fixed fee or percentage of the advance as commission. This
does not affect the interest rate you are charged as this is set by the
lender."
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 hire
purchase 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 website http://www.fsa.gov.uk/register/home.do
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