Pre-Contract Disclosure
This Information relates to the activities undertaken by motorlend a trading style of the i3 Technology Group Ltd
i3 Technology Group Ltd is a credit broker, not a lender. We can introduce you to a limited group of carefully selected credit providers who may be able to offer you finance for your purchase. Each credit provider may have different interest rates and charges. We do not charge you a fee for our services. Rates will be either fixed based on the lender or based on your credit score. Fixed rates are determined by our contractual agreements, and we cannot change this rate. Credit score-based rates are pre-set, but are also linked to your individual credit rating. Typically, the higher your credit score, the lower the APR you will receive from a credit provider. We are only able to offer a range of finance products from these providers, which may be suitable for you, and we will explain the key features of these products to you. We are not independent financial advisors. Furthermore, we will provide details of the products available from the credit providers that we work with, but no advice or recommendation will be made. You must decide whether the finance product is right for you.
We will receive payment from the credit provider for introducing you to them. The amount received could vary by credit provider, which may be a higher amount in relation to certain products compared with other products available. The credit providers we work with could pay commission at different rates. However, the amount of commission that we receive does not have an effect on the amount that you pay to the lender under your credit agreement.
We run a number of different commission models, depending on the arrangements that we have agreed with our credit providers. The commission received is either a fixed fee or a percentage of the amount you borrow, which means the payment received may vary depending on the amount you borrow and the term the loan is borrowed over. This may also mean that the more you borrow, the more we may be paid. Our commission will not influence the amount you will pay under your credit agreement. Details on the amount of commission are available on request
The Financial Conduct Authority
The Financial Conduct Authority (FCA) is the independent watchdog that regulates financial services. Use this information to decide if our services are right for you.
Treating Customers Fairly
Our business is committed to treating our customers fairly and ensuring our products and services are suitable for their needs. Treating Customers Fairly (TCF) is a core part of our culture and philosophy, and you can review our commitment to it by asking for a copy of our TCF policy statement.
What Products do we offer?
We are a credit broker, not a lender. We can introduce you to a limited number of lenders who may be able to assist you with your requirements. Furthermore, we will only introduce you to these lenders.
Other Finance Facilities
You may be able to obtain funding for your purchase from other providers, and you are encouraged to seek alternative quotations and details of their products by researching on the high street, in the media and online.
What will you have to pay to us for this service?
You will not make any payment to us for processing a finance application or for introducing you to a finance provider. All charges that you will pay including, interest, documentation fees or rentals, where applicable, will be clearly shown on the finance agreement.
We will receive a commission payment from the finance provider if you decide to enter into an agreement with them. You can request us to disclose the amount of any commission received. A vehicle purchase may contain an administration fee from us or the vehicle supplier.
Understanding our products and documents
You should carefully consider the amount of time you need to review the information and documentation with which you have been presented, and ensure you understand your commitments under the agreement. You should also consider if it is advisable for you to have someone you know to help you make your decision. This is particularly important if you have any health issues, difficulty in understanding information, or there have been any recent life events that could affect your ability to fully understand the information and documentation. Please advise us if this is the case, and we can then proceed with your requirements in the most appropriate way.
Affordability
You should assess the monthly payments you are required to make throughout the agreement and ensure you are able to meet these obligations and other obligations you already have without suffering undue hardship. If you are aware of any future events that will affect your ability to meet these payments, you should ensure the provider is informed immediately.
Your credit rating could be adversely affected if you do not make payments when due to which could make it harder or more expensive for you to access finance facilities in the future.
Who regulates us?
motorlend is a trading style of the i3 Technology Group Limited, We are authorised and regulated by the Financial Conduct Authority; firm reference number 915462. You can check this information on the FCA register by visiting www.fca.org.uk/register or by contacting the FCA on 0800 111 6768.
What to do if you have a complaint.
If you wish to register a complaint, you can contact us at:
In writing: i3 Technology Group Ltd, 167-169 Great Portland Street Fifth Floor London W1W 5PF
By Phone: 020 3371 9355
By email: [email protected]
If you would like to know how we handle complaints, please ask for a copy of our complaints handling process. If you can’t resolve a complaint with us, you may be able to refer it to the Financial Ombudsman Service, whose contact details are set out below:
In writing: The Financial Ombudsman Service, Exchange Tower, London E14 9SR
By telephone: 0800 0234567
By email: [email protected]
Website: www.financial-ombudsman.org.uk
Confidentiality and Data Protection
Throughout the process of administering services for you, we will need to collect personal information from you and pass this information to one or more third party organisations in order for them to supply any services you request.
This may include passing this information to one or more potential lenders or credit brokers to enable them to make a credit decision. These lenders may use your information to conduct an affordability and credit worthiness assessment, and will do so using the consent given by you. This may include sharing your information with credit reference agencies and other companies for use in credit decisions and fraud prevention. For full details of where your information will be sent, and the purpose for doing so, or to cancel your consent for the processing of your personal data, please contact us.
In cases where your initial application may be refused by the most suitable lender, your application may be referred to other lenders or credit brokers, who may also share information with credit reference agencies in order to assess your application for finance.
Those lenders or credit brokers will not use your personal information to provide you with promotional or marketing material, unless you opt-in to receive this material directly with them. A copy of our privacy policy, which details how your information will be processed and your rights, is freely available upon request. To request this information, please contact us:
In writing: i3 Technology Group Ltd, 167-169 Great Portland Street Fifth Floor, London W1 W5PF
By email: [email protected]
