Lease4Less Initial Disclosure Document

Lease4Less Initial Disclosure Document

The Financial Conduct Authority (FCA) is the independent regulator of financial services in the United Kingdom. The FCA requires us to provide you with this Initial Disclosure Document.

This document explains who we are, the services we provide, the products we offer, how we are paid, who regulates us, and what to do if you have a complaint.

 

Who We Are

Promas Enterprises Limited trading as Lease4Less is a credit broker and not a lender. We are authorised and regulated by the Financial Conduct Authority (FCA Firm Reference Number: 659329).

 

What Services Do We Provide?

We provide credit broking services. This means we assess your requirements based on the information you provide, introduce you to a suitable finance provider from our panel, and assist with the process of sourcing and arranging your vehicle and finance agreement.

We may ask questions about your circumstances in order to identify suitable products. It is important that all information you provide is complete and accurate.

We do not provide advice or recommendations. We provide information to help you make your own informed choice.

We do not offer products from the whole market. We only offer Personal Contract Hire, Business Contract Hire and Finance Lease products.

 

Whose Products Do We Use?

We work with a panel of selected finance providers (lenders) who may be able to offer finance solutions based on your requirements. We will only introduce you to lenders with whom we have a commercial relationship.

 

Do We Charge for Our Services?

Yes. We charge a Vehicle Processing Fee of £250 + VAT (£300 including VAT). This fee is payable when you proceed with an order and covers administrative and broking services.

Once work has commenced, this fee is non-refundable as it reflects work already undertaken.

 

Commission Disclosure

We are a commission-based organisation. If you enter into a finance agreement, we will receive a payment from the lender. This may be a fixed amount or variable depending on the product, lender and volume of business placed.

This may be reflected in the monthly payments you make. We will disclose the nature of any commission before you enter into a finance agreement.

 

Regulation

Lease4Less is authorised and regulated by the Financial Conduct Authority.

 

Complaints

If you are dissatisfied with our service, you can contact us using our complaints procedure, available on our website or upon request. If your complaint relates to a regulated finance agreement, you may refer it to the Financial Ombudsman Service.

 

Financial Services Compensation Scheme (FSCS)

You may be entitled to compensation from the Financial Services Compensation Scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of your claim.

 

Important Summary

  • We are a credit broker, not a lender.
  • We do not provide financial advice
  • We do not offer products from the whole market.
  • We charge a vehicle processing fee and may receive commission for introductions to lenders.