INITIAL DISCLOSURE DOCUMENT
The Financial Conduct Authority (FCA) is the national independent regulator of financial services.
As a business that is regulated, the FCA require that we provide you with an ‘Initial Disclosure Document’ to help you decide if the products and services we offer are right for you. The document details information about our business, who regulates us, the products we offer, the services we provide, what we charge for providing these services, our complaints process and details about the Financial Services Compensation Scheme.
Who are we?
LetsTalk Leasing is a trading style of LetsTalkFleet Limited and is a private limited company. We are authorised and regulated by the Financial Conduct Authority. We are a credit broker, not a lender and we provide motor vehicle finance brokerage services to customers via third party finance providers on personal and business contract hire agreements.
Registered Office Address: City Of Salford Community Stadium, 1 Stadium Way, Manchester, England, M30 7EY.
Company No.: 10597935,
FCA Firm Reference No.: 773324
Data Protection Reg: A8184834
VAT No: 267815273
BVRLA Membership No.:7281
Our principal place of business is at 1 Stadium Way, Salford, Manchester M30 7EY.
The services we provide
We work with a number of the largest UK Vehicle financing companies to find competitive vehicle leasing offers for both consumers and businesses.
We will look to provide you with vehicle leasing options that are aligned to your requirements and comparable details of firms most appropriate to your lending or purchase requirements. We will also provide general information relating to finance products. In assessing your requirements, we may seek such information about your personal circumstances and objectives as might be relevant in order to enable us to identify your needs and establish a credit line.
It is important that you provide us with accurate and relevant information so that we can try to match you with the most suitable product. You will not receive formal advice, or a recommendation from us, but we will look to provide you with information and options so as to assist you in making an informed choice based on your specific requirements.
The products we use
As an FCA regulated credit broker we are able to introduce you to a carefully selected panel of finance providers who can help you finance your vehicle and provide other products/services that you may require, including vehicle servicing and maintenance packages. We will not offer facilities outside of this panel.
We will provide you with general information on vehicle leasing, or comparable details of lenders suitable to your requirements. We work with some of the UK’s most prominent and trusted finance providers in order to help secure you the best and most appropriate deal.
We may receive a commission or other benefits from one of our finance providers should you decide to enter into an agreement with them as a result of our introduction. This is reflected in the monthly lease rate that you pay for your vehicle. The amount of commission received may vary depending on the funder selected, the terms of the funding and other criteria, such as achieving high levels of customer service. Some funders may also pay us additional marketing support. If you would like more information regard to the disclosure of commissions, please e-mail firstname.lastname@example.org .
Who regulates us?
LetsTalk Leasing is a trading style of LetsTalkFleet Ltd and is regulated by the FCA. These details can be verified by viewing the Financial Services Register at www.fca.org.uk/register/or contacting them on: 0300 500 8082. Our company reference number is 773324.
The fees we charge
Administration Fee - We charge an Administration fee of £150 + VAT for our services. This Administration Fee covers the costs we incur for arranging your vehicle hire agreement including ordering your vehicle, arranging your finance and organising delivery of your vehicle. This Administration Fee is payable by debit or credit card or by BACs payment and is taken after we have confirmed finance approval from your chosen finance company and we are in possession of all relevant paperwork signed by yourself instructing us to place an order on your behalf. Credit card payments will be subject to a 1.95% charge.
Hire Agreement Mileage Amendment Fee – When your actual mileage driven is not aligned to the contracted mileage on your Hire Agreement, subject to approval by your finance company, you may be able to amend your agreement. Hire Agreement Mileage Amendments (e.g. reductions or increases to contracted mileage) will incur a fee of £65 + VAT for providing this service. The Hire Agreement Mileage Amendments Fee is payable by debit or credit card or by BACs payment and will be taken on receipt of your signed finance documentation detailing the amendment. Credit card payments will be subject to a 1.95% charge. Please note, this option to amend your agreement is not offered by all finance companies and that amendments to your Hire Agreement terms will result in changes to your monthly Lease charges to reflect the changes made. Our Customer services team will be happy to support and advise you regarding your specific options.
Hire Agreement Term Extension Fee – When you near the end of your Hire Agreement term and subject to approval by your finance company, you may be able to extend your agreement. Hire Agreement Term Extensions will incur a fee of £65 + VAT for providing this service. The Hire Agreement Term Extension Fee is payable by debit or credit card or by BACs payment and will be taken on receipt of your signed finance documentation detailing the amendment. Credit card payments will be subject to a 1.95% charge. Please note, this option to amend your agreement is not offered by all finance companies and that amendments to your Hire Agreement terms will result in changes to your monthly Lease charges to reflect the changes made. Our Customer services team will be happy to support and advise you regarding your specific options.
If you would like us to disclose any potential commission we earn
The Financial Conduct Authority expects any intermediary to disclose to the customer that a commission may be payable by the owner or creditor to the intermediary, and, if the customer asks, the amount of that commission. The Financial Conduct Authority has made it clear that "commission" means any financial consideration.
If you would like Lets Talk Finance to disclose any potential commission please make your request to our head office address on our or by email to email@example.com or by telephone: 0330 056 3331
Confidentiality and Data Protection
Dispute Resolution and Complaints
LetsTalk are passionate about delivering excellent service to all of our customers. It is important to us that all complaints are resolved as quickly as possible and to the complete satisfaction of our clients.
If you have a complaint about any aspect of our service then we would like to hear from you. To register a complaint, contact us by:
Telephone: 0330 056 3331
Or write to us at:
1 Stadium Way
For more information please see our Complaints Handling Policy.
British Vehicle Rental and Leasing Authority (BVRLA) Code of Conduct
The BVRLA is the UK trade body for companies engaged in the leasing, rental and fleet management of cars and commercial vehicles for both business and consumer users.
The BVRLA code of conduct sets out the standards it expects its members to achieve in all aspects of the brokering of leased vehicles.
BVRLA membership ensures the customer that they should expect the highest levels of professionalism and integrity when using a BVRLA member.
As a Leasing Broker Member of the BVRLA we adhere in full to their code of conduct.
For full details of the BVRLA Code of Conduct please see https://www.bvrla.co.uk/resour...
We are LetsTalkFleet Ltd trading as LetsTalk Leasing and our registered office is 1 Stadium Way, Salford, M30 7EY
We are authorised and regulated by the Financial Conduct Authority. Registered No: 773324
We are a credit broker of vehicle finance, we are not a funder or lender.
We may charge an Administration fee of £150 + VAT (£180) for our Brokering Services. This charge is a contribution to the costs we incur in arranging and processing your vehicle finance agreement and will only be payable at vehicle order stage when suitable finance has been obtained.
Payment of the Administration Fee will be required by bank transfer prior to the delivery of the vehicle.
We reserve the right to charge a cancellation fee as set out in out Terms and Conditions
Fair Processing Notice
Use of your information
Before our funders provide services, goods or financing to you and throughout the course of any agreement, they undertake checks for the purposes of carrying out their obligations under the hire agreement, exercising their rights under the agreement, ensuring your continued creditworthiness, preventing fraud and money laundering and to verify your/others identity(ies). These checks may require them to process your personal information and if you do not provide this information, they may not be able to offer you these services, goods or financing.
They use the personal information/data that they have collected from you, collected from other sources or they have generated about you, which may include your name, date of birth, residential address, address history, contact details (e.g. email address and telephone number), financial information, employment information, identifiers assigned to your computer or other internet connected device including your Internet Protocol (IP) address and vehicle details.
What they will do when you apply for finance they use your personal information in the following ways:
1.They will use your personal information to search your records at credit reference agencies. If you are an owner, director or partner in a small business, they may also use your information to search your business' records. they will also perform checks on any proposed guarantor of your obligations under the proposed agreement using the information provided. So you must be sure you have your proposed guarantor's agreement to disclose their information. they may use credit reference agencies for this purpose.
2.If you enter into an agreement with them, they will give details of this agreement, the payments you make under it and any default or failure to keep to its terms, and any change of name or address, to credit reference agencies. Account information given to these agencies remains on our files for 6 years after the account is closed, whether settled by you or upon default. If you do not enter into an agreement with us, your information will be retained for 12 months.
3.They will also provide your information to fraud prevention agencies to prevent or detect fraud, money laundering, and to verify your identity. If you give us false or inaccurate information or they suspect or identify fraud, they will record this and may also pass this information to our Group Companies, fraud prevention agencies and other law enforcement agencies involved in fraud prevention to detect, investigate and prevent crime.
4.They will check their own records for information on you and obtain references about you from, and make enquiries about you to, other persons and organisations.
5.They may pass your information to other Group Companies, agents and others for the administration of your application or providing a service you have requested related to the proposed agreement, to any guarantor of your obligations under the proposed agreement, to other third parties when required or permitted by law, such as in relation to any legal proceedings or to investigate or prevent crime, or where you give your permission, or in the process of us transferring the proposed agreement or our business to another organisation. If any of these organisations are in other countries in the European Economic Area, they will have similar standards of data protection as in the UK. If any of these organisations are outside of the European Economic Area, your personal information may be transferred to, stored and processed in a country that is not regarded as ensuring an adequate level of protection for personal information under European Union law. they will make sure there are appropriate safeguards (such as contractual commitments) in accordance with applicable legal requirements to ensure that your information is adequately protected.
6.They will use a scoring or other automated decision-making system to assess your application and to verify your identity. If the results indicate that your identity is not verifiable or that you pose a significant credit risk, they may not be able to provide you with financing. You have rights in relation to this automated decision-making. Please contact us using the contact details provided below.
7.Where they do not use your information on the basis of your consent or where it is required for compliance with a legal obligation, they use your information because it is in our legitimate interests to do so in order to manage their business efficiently and effectively, to avoid fraud and money laundering, to ensure they provide an appropriate service, to exercise their legal rights and to ensure our records are kept up to date. If they do collect your personal information by relying on your consent, you have the right to revoke your consent at any time.
What the credit reference agencies will do:
1.Whether or not your application for finance proceeds, credit reference agencies will place on your credit file a record of our search including the personal information you provide to the selected funder. This record of that search will be seen by other organisations when you apply for credit in the future. A large number of applications within a short period of time could affect your ability to obtain credit.
2.Whether or not your application for finance proceeds, the agencies will link your records and those of your financial associate(s), including any previous and subsequent names. A financial associate is a person with whom you have, or have had, joint personal financial arrangements such as joint accounts or have made joint credit applications. It may be a spouse or partner (not a business partner). These links will remain on your and their files until you or they successfully file for a disassociation at the credit reference agencies.
3.The agencies may supply to the selected funder credit information such as previous applications and the conduct of accounts in your name and of your financial associate(s) and any business accounts you have, public information such as County Court Judgments and bankruptcies and Electoral Register information, and fraud prevention information.
4.The agencies use this information to fulfil their legitimate business interests, by ensuring they provide an appropriate service to customers and ensuring that their records are kept up to date. The agencies will hold your information for six years.
5.More information about credit reference agencies and how they use personal information is available at www.experian.co.uk/crain and www.equifax.co.uk.
What fraud prevention agencies will do:
1.Fraud prevention agencies will use the personal information you provide to us and information collected from other providers, to prevent fraud and money laundering and to verify your identity. They may also allow law enforcement agencies to access and use your personal information to detect, investigate and prevent crime or pass such information to law enforcement agencies. This is on the basis that they and they have a legitimate interest in preventing fraud and money laundering and to verify your identity, in order to protect our business and to comply with laws that apply to us. This processing is also a contractual requirement of the financing you have requested.
2.As part of the processing of your personal information, decisions may be made by automatic means. You may automatically be considered to pose a fraud or money laundering risk if this processing reveals your behaviour to be consistent with that of known fraudsters or money launderers, inconsistent with your previous submissions or if you appear to have hidden your true identity. You have rights in relation to this automated decision-making. Please contact the fraud prevention agencies for more information.
3.Fraud prevention agencies can hold your personal information for different periods of time, depending on how that data is being used.
4.If you are considered to pose a fraud or money laundering risk, your information can be held (and a record retained) by fraud prevention agencies for up to six years from its receipt. In this case, they may refuse to provide the financing and other services you have requested, or they may stop providing existing financing to you. Additionally, this may result in others refusing to provide services, financing or employment to you. Please use the contact details provided above if you would like more information about our practices.
5.If fraud prevention agencies transfer your personal data outside of the European Economic Area, they impose contractual obligations on the recipients of that data to protect your personal data to the standard required in the European Economic Area. They may also require the recipient to subscribe to ‘international frameworks’ intended to enable secure data sharing. For more information on, or to see a copy of, the appropriate safeguards in place please contact the fraud prevention agencies.
How they and others use the agency information about you:
Some information held by the credit reference and fraud prevention agencies will be disclosed to the selected funder and other organisations to, for example:
•prevent fraud and money laundering by, for example, checking details on applications for credit and credit related or other facilities;
•checking details on proposals and claims for all types of insurance; checking details of job applications and employees;
•verify your identity if you or your financial associate(s) applies for other facilities including all types of insurance applications and claims;
•make decisions on credit, insurance and other facilities, about you, your financial associate(s), members of your household or your business;
•trace your whereabouts and recover debts that you owe;
•manage credit and credit related accounts and other facilities; and
•undertake statistical analysis, training and system testing.
•carry out customer surveys for internal research purposes only.
The Selected funder and other organisations may access and use from other countries the information recorded by fraud prevention agencies. they and other organisations use this information in these ways as it is in their legitimate interests to ensure that they manage our business efficiently, avoid fraud and credit risk, provide appropriate products and services to our customers, and to ensure that our records are kept up to date.