Terms of Business
About our Company
Trading Name: Autoleasplan Ltd trading as Modern Finance Solutions
Company Registration Number: 05244464
Company Registered Address: 10 Basildene Road Hounslow TW4 7LE
Telephone 0208 572 1237
FCA No: 723438 www.fca.org
Data Protection No ZA170240 www.ico.org
Financial Conduct Authority (FCA)
The FCA is the independent watchdog that regulates financial services. You need to read this important document. It explains the service you are being offered and how you will pay for it. The Company is Authorised and Regulated by the FCA and our permissions:
- Credit broking
- Consumer Credit Broking
- Consumer Buy to let mortgages
- Limited to Debt-Adjusting on a commercial basis
- Limited to Debt-Counselling on a commercial basis
Data Protection Registration
All information provided by Clients to the Company in this regard is treated as confidential and will be handled in accordance with the Data Protection Act as set out by the Information Commissioners
Your personal data is held in accordance with the Data Protection Act 1988. Some or all of your data that you supply to us in connection with your finance proposal will be passed to our lenders in order to process your credit application. To correct or request sight of your personal data, you can write to us and Autoleaseplan Ltd will seek to appropriately identify all clients prior to the release or discussion of their personal data.
The Company is registered with the Information Commissioners Office for Data Protection Purposes.
Whose products do we offer?
Autoleaseplan Limited trading as Modern Finance Solutions are a credit Broker who offer a wide range of competitive financial products from the various lenders we deal with and details of the lenders we work with are available on request.
- Business Finance
- Commercial Mortgages
- Consumer Loans
- Vehicle Finance
- Asset Finance
- Buy to let/HMO/MUB Mortgages
- Property Development Finance
- Bridging finance
How we conduct business
We are a commercial finance broker and operate in the market as a Credit Broker, we are not a Lender and we do not lend our own money. As such we can introduce you to a wide range of finance providers depending on your requirements and circumstances. We are not independent financial advisors and so are unable to provide you with independent financial advice. As a Credit Broker we provide a range of financial brokerage services to business and personal clients.
The Company is not tied to any lender or group of lenders and we source appropriate financial services and products for our Clients from a broad range number of lending organisations with whom the company has a professional broker agreement.
The policy of the Company is to provide our Clients an unbiased and impartial service and to recommend the most appropriate and cost effective financial products matching their declared needs, borrowing requirements and personal / business financial means and circumstances.
Services provided to the client at no charge and without any obligation
A minimum of one free consultation is provided to all our Clients and by arrangement this may be conducted either via telephone or a face to face meeting either at The Company offices or the Clients premises.
Commission received and charges for our services
We may receive commissions from the finance provider if you decide to enter into an agreement with them. This is how we get remunerated by introducing your application to the appropriate lender.
We will also act on your behalf to liaise with the mortgage lender. We normally charge a fee for our mortgage service, however, this will depend on your circumstances. Complex cases will usually attract a higher fee and less complex cases may not require a broker fee and our standard fee is 1% of the amount borrowed. This can be lower for straight forward cases and may be higher for complex cases. However, we will discuss and agree a fee with you prior to submitting any mortgage application.
Our duty of care and policy on Treating Customers fairly
The Company works under the control of the Financial Conduct Authority (FCA) and is authorized and regulated as detailed above. In dealing with Clients our duty of care dictates that it all cases the recommendation we make will be based on the best and most appropriate solution for the client given the information provided to the Company. In providing our services and support to a client we will normally request your information on a finance application form and or ‘Fact Finding’ information pertaining to the overall financial means of the Client, Asset and Liability position, credit status and general personal / company profile.
Debt serviceability/ vulnerable clients policy / client risks
Our duty of care and regulatory obligations dictate that in all Client engagements we should take all possible steps to ensure that the following conditions are met:
- Any product or service we are recommending to a Client can be demonstrated to be adequately affordable to the client without the risk of financial hardship occurring either at the time of engagement or if circumstances change during the term of the loan, lease or mortgage. This is referred to as ‘ Debt Serviceability Criteria’ and if, in the view of the Company, the requested borrowing requirements cannot be adequately afforded this advice will be provided to the Client.
- That we take all possible steps to identify any ‘Vulnerable Clients’ who, and for whatever reason, may not be in a position to fully understand the terms and conditions of any financial service being requested. In such cases the Company will provide appropriate advice to the Client.
- That we advise all Clients of the associated risks and possible consequences should they not be able to make the regular scheduled payments during the agreed term for any loan, lease or mortgage etc. taken out
PLEASE MAKE BORROWING DECISIONS CAREFULLY, PROPERTY OR OTHER ASSETS OFFERED AS SECURITY MAY BE AT RISK IF YOU CANNOT KEEP UP WITH REPAYMENTS
Credit profile searches
In providing our services it may be necessary for a recommended Lender to complete a formal credit search on a Client or the Clients business.
In completing any of the Personal Financial Profile or Business Financial Profile or general fact finding documents or finance application forms provided by us to you, it is considered that you agree to such credit searches being carried out.
What to do if you have a complaint
The Company works hard to provide a consistently high level of service to all Clients. Should any Client have a grievance or complaint to make to The Company or the services provided this should be sent by recorded delivery post marked for the attention of the Managing Director at the Company Main Office address as shown above.
In registering a complaint with the Company please include as much detail as possible regarding the specific nature of the grievance you have including the names of any staff members of the Company that you have been dealing with.
All complaints registered with the Company will be acknowledged within five business days and all matters relating to the complaint will be handled either in person by the Managing Director of the Company or by a nominated senior member of staff.
Every effort will be made to resolve the complaint or grievance as quickly as possible and to the full satisfaction of the Client.
If you wish to register a complaint, please contact us at Autoleaseplan Ltd trading as Modern Finance Solutions By post: 10 Basildene Road Hounslow TW4 7LE By phone 020 572 1237 or email: firstname.lastname@example.org
If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service.
Use of Website
Please review the following terms and conditions concerning your use of the Web Site. By accessing, using or downloading any materials from the Web Site, you agree to follow and be bound by these terms and conditions (the “Terms”). If you do not agree with these Terms, please do not use this Web Site.
Except as stated herein, none of the Materials may be copied, reproduced, distributed, republished, downloaded, displayed, posted or transmitted in any form or by any means, including but not limited to electronic, mechanical, photocopying, recording, or other means, without the prior express written permission of The Company or the Third Party Provider. Also, you may not “mirror” any Materials contained on this Web Site on any other server without prior express written permission. Except where expressly provided otherwise by The Company nothing on this Web Site shall be construed to confer any license under any of The Company or any Third Party Provider’s intellectual property rights, whether by implication, or otherwise you acknowledge sole responsibility for obtaining any such licenses.
See the “Legal Contact Information” below if you have any questions about obtaining such licenses. Materials provided by Third Party Providers have not necessarily been independently reviewed, tested, certified, or authenticated in whole or in part. The Company does not promote, recommend, provide, sell, license, or lease any of the Materials other than those specifically identified as being provided by The Company. The Company hereby grants you permission to display, copy, distribute and download The Company materials on this Web Site provided that: (1) both the copyright notice identified below and this permission notice appear in the Materials; (2) the use of such Materials is solely for informational use and will not be copied or posted on any networked computer broadcast in any media, or used for unofficial dissemination; and (3) the Materials are not modified in any way.