Commissions Disclosure
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?
Lyons Brothers Ltd are authorised & regulated by the Financial Conduct Authority (FCA) with a reference number 782992, for consumer credit purposes. We act as a credit broker, not as lender, for the introduction to a limited number of finance providers only for; Hire Purchase, Personal Contract Purchase (PCP), Our panel of Lenders, who may be able to finance your purchase are;· Northridge Finance - Fixed Rate / % of Balance Financed Commission Model
· Santander – Fixed Rate / % Balance Financed Commission Model
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.
You are under no obligation to make use of any financial product arranged by Lyons Brothers Ltd. Other providers may offer similar 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 for;
Hire Purchase, Personal Contract Purchase (PCP).
You are not obliged to agree with our recommendations or to make any purchase of a finance product. You may obtain free, unbiased guidance 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?
You will make no payment to us for the introduction to our panel of lenders, typically we 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 typically receives 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 will earn from the lender.
5. Who regulates us?
Lyons Brothers Ltd are directly authorised & regulated by the Financial Conduct Authority (FCA) with a reference number 782992, for consumer credit purposes.
6. What to do if you have a complaint
If you wish to register a complaint, please contact us;
- In writing – Complaints, Lyons Brothers Ltd, 5 Upper Strabane Road, Castlederg, County Tyrone, BT81 7BG
- By phone – 02881 671258
- By e-mail – diane@peugeotmail.co.uk
If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service. www.financial-ombudsman.org.uk
7. The Data Protection Act
Lyons Brothers Ltd is also governed by the Data Protection Act (2018). This ensures any information you give us is 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 Lyons Brothers Ltd are unable to process your order or enquiry. Under the Data Protection Act you may apply to have this information restricted or removed at any time by telling Lyons Brothers Ltd via phone on 02881 671258 or in writing to Lyons Brothers Ltd, 5 Upper Strabane Road, Castlederg, County Tyrone, BT81 7BG