Who we are and what we do

Quite simply, we can help you to discover options for funding.

If you are not interested in finance for a specific purpose then you should not use us, as our service will be unsuitable for your needs.

That is because we are a broker fully licensed by the FCA for consumer credit broking, FRN.631176, with a wide panel of funders on our books. You can view our registration on the Financial Services Register, which is here:

https://www.register.fca.org.uk/

Just type in the FRN number quoted above to find us. By the way, a wide panel is simply five or more – but in fact we have over 50 funders that we use to provide the right funding solution for the right client.

Some things for you to consider before taking out a loan through us.

• We are paid by the funder. Some funders we may have a special relationship with, and we may have exclusivity, or preferential rates as a result. We may share profit and risk with others. We provide a valuable service will usually receive a commission for making a referral to a funder. However, we will never charge you a fee for finance, as we invoice our funders directly for the introduction.

• The marketplace is very broad. There are many products and many different funders looking to serve different parts of that market. We understand the appetite of various underwriting teams through our pre-existing relationship with them and we will advocate on your behalf where we think there is a realistic opportunity for funding available, and according to your instructions and priorities. This can save you a significant amount of time and help you to avoid unnecessary credit-searches from applications for funding, which an experienced broker like us would know were unsuitable or had no chance of succeeding.

• We handle many applications for vehicle finance. Some car dealers will share in our commission if they refer you to us, and where they expect to do so, they should tell you of this. This will not increase the amount of commission we charge the funder, however. It is simply a natural cost of our work and a commonplace arrangement throughout this industry. We have checks and balances in place to mitigate any potential risk to the customer arising from these arrangements.

• Some of our partners do not work with any other credit broker. Some partners are Introducer Appointed Representatives of ours. This usually means that they are tied to us and cannot refer business elsewhere. In all these cases we work hard to ensure that at every point in the supply chain you have been treated fairly and get the service you would reasonably expect during the transaction in hand. We do not tolerate any failure by any introducer or supplier in their duty of care to you, and we always try to act in your best interests given the information we have.

• You should tell us the truth. We are required to have regard for your best interests in any information we give you in our professional capacity as credit brokers and so the questions we ask are designed to help us identify the information appropriate to your circumstances. Your answers are not regarded as an application for finance in themselves but may be used as the basis for exploring options. It is important that you provide us with accurate information so that we can identify your best interests in every case. If, for any reason, you do not answer any or all the questions, or if you fail to provide true and accurate information to the best of your knowledge, the information given subsequently may not be appropriate, as it can only be based on the answers provided.

• There may be a credit search. We may with your permission verify your status with a credit reference agency which may leave a trace on your credit file. More information about this is contained in our privacy notice https://towtruck.finance/privacy-notice/

Why our customers are happy to use us, and often come back to use us again.

• Efficient service. With our specialist knowledge of the funders on our panel and the customers they choose to serve we are often able to match the right client with the right funder, and avoid ‘shopping around’.

• Expertise. We will balance the risk of rejection with the benefit offered, according to your risk profile after a detailed fact-find.

• Information. We aim to keep you informed at every step of the way, and always ask for your consent to pass your information to third parties like credit reference agencies or our funder partners. See our privacy notice for more information at https://motorhome.finance/privacy-notice/

• Advocacy and appraisal. When we approach a funder we advocate on your behalf, and aim to appraise the funder of the risk they need to assess, as that is how your deal is quantified. Naturally we do our best to deliver an offer which meets your expectations. In any case we will tell you if a funder makes you an offer, including which funder it was, and their conditions of approval. We will also explain the deal structure to you, and the risks and benefits associated with the finance deal you’ve been offered. Of course we will also tell you how much it will cost, and at what rate. Sometimes there may be room for movement if at that point you turn down the offer. We will try alternatives if they are available – and let the funder know that you are looking for a better deal.

• No hard sell. Please note that if we think there may be a better offer available if we approached a different funder, we will tell you. But the first funder we approach will have been the one that we originally expected to give you the best offer. However, we will never pressurise you to enter any agreement.

• Options available. If on the other hand it is the funder who rejects your application, we will advise you if we think there is another funder who may make an offer.

• Responsibility. Before you sign the agreement, we will verify your identity, often in person, so that fraudulent applications aren’t made in your name, and to identify other criminal financing activity.

• Time. We always give you an opportunity to reflect upon how this commitment may impact you. Upon signing the agreement, we will request that the funds be released to the supplier or into your bank account as soon as possible; depending on the type of agreement.