Commission Disclosure
Commission Disclosure
About Our Role
Rayner Smith Finance is a trading style of Rayner Smith Finance & Leasing Ltd.
We are authorised and regulated by the Financial Conduct Authority (FCA) under Firm Reference Number 922697 and act as a credit broker, not a lender.
We work with a panel of finance providers and vehicle leasing companies to help customers secure suitable vehicle finance and leasing solutions.
How We Are Paid
Fees, Charges & Commission
Rayner Smith Finance charges a brokerage fee of £195.00 plus VAT (£234.00 including VAT) for arranging your vehicle finance or leasing agreement.
This fee contributes towards the administration, sourcing and brokerage services we provide, including arranging quotations, liaising with finance providers and supplying dealers, and managing your vehicle order through to completion.
The brokerage fee becomes payable once your finance has been approved and your vehicle order has been accepted. Payment can be made by bank transfer or debit/credit card. Where available and subject to lender approval, the fee may also be incorporated into your finance agreement and spread across the agreed contract term.
If you decide to cancel your Agreement for Brokering Services after work has commenced, Rayner Smith Finance reserves the right to charge a cancellation fee of up to £395.00 plus VAT to cover the costs of services already provided. Full details can be found within our Terms and Conditions.
Any applicable cancellation charge will be confirmed to you within 14 days of receiving your cancellation request and will be payable within 14 days of the invoice being issued.
Please note that these brokerage cancellation terms relate solely to the services provided by Rayner Smith Finance and do not affect any statutory cooling-off rights you may have in relation to a regulated finance agreement with the finance provider.
In addition to our brokerage fee, Rayner Smith Finance typically receives commission from the lender, leasing company or finance provider for introducing business to them. The commission we receive varies depending on the finance provider and the type of agreement arranged.
The commission we receive may form part of the overall cost of your finance or leasing agreement. In some cases, a higher commission payment may result in a higher overall cost to you. However, we are committed to acting honestly, fairly and professionally at all times and will always seek to recommend products that are appropriate for your needs and circumstances.
You also have the right to request details of any commission payable in connection with your agreement before you enter into it.
Your Right to Information
If you are a regulated customer and would like further information regarding any commission we may receive in connection with your agreement, including the amount payable or how it is calculated, please contact us.
Where required by FCA rules, we will disclose the nature of any commission and, where applicable, the amount of commission payable before you enter into a finance agreement.
Contact Us
If you have any questions regarding this Commission Disclosure, please contact:
Rayner Smith Finance
Unit C2, Otley Mills
Ilkley Road
Otley
West Yorkshire
LS21 3EE
Telephone: 0113 887 5050
Email: [email protected]
Rayner Smith Finance is a trading style of Rayner Smith Finance & Leasing Ltd. Registered in England & Wales No. 11857387. Authorised and regulated by the Financial Conduct Authority (FRN 922697). ICO Registration No. ZB739954. BVRLA Member No. 11421. Registered Office: Unit C2, Otley Mills, Ilkley Road, Otley, West Yorkshire, LS21 3EE.