IDD
Initial Disclosure Document
About Our Financial Services
1. The Financial Conduct Authority (FCA)
The FCA is the independent watchdog that regulates financial services. Use this information to decide if our services are right for you.
2. Whose products do we offer?
We act as a credit broker, not as lender, for the introduction to a limited number of finance providers only for:
• Hire Purchase (HP), Personal Contract Purchase (PCP), Lease Purchase, Business Contract Hire (BCH) Personal Contract Hire (PCH)
We act as their agent for this introduction and not as your agent. We are not an independent financial advisor; we will provide details of products available. We may advise you on the products, subject to your personal circumstances, though you are not obliged to take our advice or recommendation.
We are committed to better supporting, and taking into account the needs of customers who make us aware that they are vulnerable (as per Financial Conduct Authority's definition).
You are under no obligation to make use of any financial product arranged by Lamb & Gardiner or to purchase any product from us. Other providers may offer similar finance products that may or may not meet your needs.
3. Which service will we provide you with?
We will review suitable finance products for you after we have assessed your needs via our finance survey for:
Hire Purchase (HP), Personal Contract Purchase (PCP) Lease Purchase Business Contract Hire (BCH), Personal Contract Hire (PCH)
You are not obliged to agree with our recommendations or to make any purchase of a finance. You may obtain free, independent financial and insurance advice from the Money Advice Service at www.moneyadviceservice.org.uk or Your Impartial Guide to Car Finance at www.financingyourcar.org.uk.
4. What will you have to pay us for this service?
We arrange the finance with the lender on your behalf. You do not pay us a fee for doing this. We may receive a revenue from the sale of the vehicle.
You will make no payment to us for the introduction to our panel of lenders, typically we may receive a commission from the lender if you decide to enter into an agreement with them. You may ask us for details of such payments.
Commission Arrangements:
% of Balance Financed Commission Model
• The Dealer may be paid a commission for introducing you to the lender. This will be a percentage of the amount that you borrow. This means the more you borrow the more the Dealer is paid. The commission will be the same no matter the interest rate that you pay. If you ask the Dealer, they will tell you (in good time before the agreement is made) the amount of any commission they may earn from the lender
• Flat £s Fee Commission Model
The Dealer may be paid a commission for introducing you to the lender. This will be a flat fee amount. This means the commission will be the same no matter how much you borrow or the interest rate that you pay. If you ask the Dealer, they will tell you (in good time before the agreement is made) the amount of commission they may earn from the lender.
5. Who regulates us?
Lamb & Gardiner Limited which is authorised and regulated by the Financial Conduct Authority. FRN is 686258 (Company number SC231564)
Lamb & Gardiner Limited who act as a credit broker, not as a lender, for the introduction to a limited number of finance providers
You can also check this on the Financial Services Register by visiting the FCA's website https://register.fca.org.uk/ or by contacting the FCA on 0300 500 8082.
6. What to do if you have a complaint?
• If you wish to register a complaint or have your information restricted or removed, please contact us:
in writing Lamb & Gardiner Limited -Bryn Park, Union Street, Coupar Angus, Perthshire, PH13 9AF
by phone
by e-mail 01828 627271
bryn@lambandgardiner.co.uk -If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service https://www.financial-ombudsman.org.uk/ you may also request a copy of our vulnerable customer policy
7. 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. Further information about the compensation scheme arrangements is available from the FSCS https://www.fscs.org.uk/ Please note - finance products are not covered by this scheme.
8. The Date Protection Act
Lamb & Gardiner Ltd is also governed by the Data Protection Act (2018) ICO ZA276051 this ensures any information you give us managed in a secure and
confidential manner. This information may be passed to other groups or affiliated members including those company(s) detailed in Section 2 above. Without
this information Lamb & Gardiner Ltd is unable to process your order or enquiry. Under the Data Protection Act you may apply have this information
restricted or removed at any time by seeing section 6 on this document.