Who regulates us?

Movantia (UK) Limited is authorised and regulated by the Financial Conduct Authority. Our FRN reference is 929281.

You can check this at http://www.register.fca.org.uk

Our Services

We are authorised credit brokers for consumer credit and commercial borrowing we can also give debt counselling and debt adjusting advice. We always act as the agent of our client.  However, in certain circumstances we may owe duties of care to other stakeholders. We will advise you when these circumstances occur so you will be aware of any possible conflict of interest.

We do not make recommendations to you but after we have assessed your needs and demands we will inform you of the offers available appropriate to your circumstances. We will provide you with enough information to enable you to make an informed purchasing decision.  If your enquiry is for a residential mortgage or other mortgage related product we will refer you to a authorised mortgage broker.

Whose products we offer

We can offer whole of market products, except those that are direct sales products. That means products that lenders only provide direct to consumers. In the event that we are unable to search whole of market we would inform you.

Remuneration

Broker Fees:

We are a commercial company and our income is generated by receiving commission from lenders. The commission will represent a percentage of the credit paid to you. For commercial borrowing we charge a professional fee which covers the work carried out in handling the finance agreement.

Debt Settlement Fees:

For agreeing debt settlements, the fee payable is a percentage based on the sum saved in the settlement with your creditor/s. If you wish to pay our debt settlement fee in instalments, you must advise us at the outset of this agreement otherwise our fee will become payable immediately the debt has been settled.  We will give you an estimate of fee payable depending on the total debt owed, the type of debt it is, the creditor and their current settlement criteria. We can only give you an exact figure of our fee once the creditor has confirmed their settlement figure.

Offers of settlement only last for short periods of time. You must make sure that you hold sufficient liquid sums of money to repay the settled debt and our fee within 48 hours of receiving the offer.

The specific amount and purpose of any professional fee or administration charge will always be advised to you in advance.

You are entitled at any time, to request information about the commission we receive. In addition to commission from lenders, we may also receive payments based on volumes of business or profitability of the account placed with them. These payments can vary from year to year.

Payment Terms – Debt Settlement Fee or Professional Fee

We only accept payment by bank transfer or cheque. We require full payment of the fee within 48 hours of your funds being paid or the debt paid to your creditor/s for debt settlements.

Termination Costs

Broker Service

You are under no obligation to engage us. Once our contract is signed you can cancel the contract within a 14 days cool off period starting from the date the contract was signed by both parties. If any commercial fee instalments have been paid in those 14 days they will be fully refunded to you bar £5.

After the cool off period you are still able to cancel by writing to us (address stated above) or email us at info@movantia.co.uk

If you cancel after the cool off period, you will be liable to pay an administration fee which will be based upon the work completed, and whether an offer has been made, the fee is calculated on an hourly basis of £50 per hour (plus VAT if applicable) or a portion of and if applicable our lost arrangement fee. If you wish to cancel please call us and we will let you know what the total administration fee will be, if applicable.

You are only liable to pay our arrangement fee in the event that an offer or facility letter has been sent to you.

If no loan offer is made and or we are unable to find a lender prepared to make an offer to you then any fee instalments made to us will be fully refunded bar £5.

If it is found that you disclosed incorrect or miss leading information or failed to disclose relevant information at any time after starting the loan application, and or your credit profile declines due to missed payments, defaults or CCJs you failed to inform us of and as a result of that the funding application cannot continue, we will charge you the above detailed administration fees.

Debt Settlement Fee

If the settlement is unsuccessful then we will refund any fee instalment amount paid to us.If you fail to send the funds to the creditor/s on time and lose the offer of settlement and then settle at a higher amount our full fee will be payable as if the original settlement had been paid. Only under circumstances that were out of your control would be waive our right to our full fee.

Prevention of Bribery

We are required to comply with all UK legislation, please do not offer our staff any incentives that would place them in a Conflict of Interest or breach the requirements of the Bribery Act 2010.

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Your Duty to Provide Accurate Information.

It is your duty to take reasonable care to answer all questions honestly and to the best of your knowledge.  If you do not, your agreement may be cancelled and you may be asked to return the loan in full.  It is important that all statements you make on proposal forms and other documents are full and accurate. If a form is completed on your behalf, you should check that the answers shown to any of the questions are true and accurate before signing the document. Failure to provide requested information to your lenders could invalidate your loan agreement.

Credit Searches

We may share your information with and obtain information about you from credit reference agencies.  If you require information about the credit reference agency we have received information from or the credit reference agencies we have approached, please do not hesitate to contact us.  Please note that any searches undertaken prior to you proceeding with your loan application will be soft searches and will not affect your credit rating. Once a lender has been identified, all searches by lenders will be recorded on your credit file. You must take care not to approach too many lenders in a short period of time as the searches could impair your credit report.

Complaints

It is our intention to provide you with a high level of customer service at all times.  If you should wish to make a complaint about our service, we have a formal complaints procedure.  In the first instance you should address your complaint to Gurjina Kaur, our Complaints Manager. We will supply you with a copy of our complaints procedure upon receipt of a complaint or at any time upon request.  If you remain unhappy with our response or, if eight weeks has passed since the complaint was made, you may be entitled to refer it to the Financial Ombudsman Service which is a free service set up to help resolve complaints from eligible complainants.  For more information about the FOS visit http://www.fos.org.uk/.  Alternatively, other out

of court complaint and redress procedures may be available.

Financial Services Compensation Scheme (FSCS)

We are covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business  and

Confidentiality (how we use your information)

All personal information about you will be treated as private and confidential.  We are registered under the General Data Protection Regulation (GDPR) Act 2018 and we undertake to comply with the Act in all our dealings with your personal data.  Your personal information will be kept secure. If you require more information on how we use your personal data, please contact us and request a copy of our Privacy Notice.

Applicable Law

This Terms of Business document is subject to English Law and the jurisdiction of English Courts.