1. Commission Disclosure
The Financial Conduct Authority (FCA) 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 FCA has made it clear that commission means any financial consideration.
Please read this document carefully and retain it for future reference.
2. Whose Products Do We Offer?
Where you are looking to finance an asset purchase, a vehicle, or arrange a business loan, we have commercial arrangements with a panel of lenders we can introduce you to. We are legally acting as a "credit broker" when we do this.
We will only offer products from this carefully selected panel of finance providers. We do not provide whole-of-market advice across every lender in the UK — we will introduce you to lenders on our panel who are most likely to be able to meet your requirements.
Sorbus Finance offers products and services from a range of finance suppliers and lenders 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 product and the volume that we place with that organisation. The amounts that we receive will vary and will impact on the amount you will pay.
3. How We Are Paid
Lenders we work with pay us commission. This commission may be fixed or variable and will impact on the monthly amount you will pay. We will disclose the commission we receive from the finance company to you prior to submitting your application to the finance provider — this will be before we propose you to the finance provider.
Should the original quote change in any way — such as a change of term, deposit amount, or mileage allowance — a new quote and commission disclosure document will be provided. We will ask you to confirm your informed consent to us receiving this remuneration before we proceed.
Our arrangement fee (where applicable) is for our advisory and administrative services and is separate from any commission received from a finance provider. Any such fee will be clearly disclosed to you in writing before you commit to any application.
4. Which Service Will We Provide for You?
You will not receive advice or a recommendation from us. We will provide you with product information to enable you to make your own choice about how to proceed.
We will try to secure the right finance arrangement for you; however, you should not consider us as giving you advice or making recommendations to you. In assessing your requirements, we may ask questions to narrow down the selection of lenders best suited to your circumstances.
5. Who Regulates Us?
Sorbus Finance Ltd is an Appointed Representative of Moorgate Finance Limited T/A MBN, which is Authorised and Regulated by the Financial Conduct Authority. The FCA reference number is 662419.
You can verify this on the Financial Conduct Authority's Register by visiting register.fca.org.uk or by contacting the FCA on 0300 500 8082.
Sorbus Finance Ltd is incorporated in England and Wales (Registration Number: 14329357) with its registered office at Sunny Bank, 12 Albion Road, Chesterfield, S40 1LJ.
6. What to Do If You Have a Complaint
If you have a complaint about any aspect of our service, please contact us in the first instance:
- By email: hello@sorbusfinance.co.uk
- By telephone: 01246 383500
- By post: Sorbus Finance Ltd, Sunny Bank, 12 Albion Road, Chesterfield, S40 1LJ
For full details of our complaints process, please see our Complaints Procedure.