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 operational services relating to your vehicle order, including, but not limited to, processing your order, liaising with supplying dealerships, and undertaking any necessary administration. The fee does not relate to the introduction of finance or credit broking services, for which we do not charge customers a fee.
Once work has commenced, this fee is non-refundable as it reflects work already undertaken.
Commission Disclosure
We will receive financial remuneration for introducing you to a lender and/or supplying dealership. This remuneration may take the form of a commission, fee or other payment, and may be fixed or variable.
This remuneration will be reflected in the payments you make under your agreement.
We will disclose the amount of any commission, fee or other remuneration payable to us before you enter into a finance contract with the lender.
Lease4Less does not charge a fee for introducing customers to a lender. Our Vehicle Processing Fee is separate from any commission we receive and relates solely to the administration and processing of your vehicle order
.
Regulation
Lease4Less is authorised and regulated by the Financial Conduct Authority.
Complaints
If you wish to make a complaint, please contact us using the details provided below.
A copy of our complaints procedure is available on request.
For regulated finance agreements - If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service. Further information is available at www.financial-ombudsman.org.uk.
You can raise a complaint with us by email, phone or letter using the following contact information
In writing: Lease4Less, Repeat House, Bright Road, Eccles, Manchester. M30 0WG
By email: [email protected]
By phone: 0161 507 8101
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.
Commission Consent
I certify that I have been informed that Lease4Less will receive commission for facilitating my finance application. I agree to these conditions and submission of my application.