About these Terms
Who we are
- As our services are provided at no financial cost to Our users, the Terms also describe how We limit Our liability to You with respect to Our services and Your use of Our Website.
What we do and don’t do...
- Asset Finance Compared™ is a trading name of Midlands Asset Finance Limited.
- Midlands Asset Finance Limited is a limited company registered in England and Wales under company number 06995483. Our registered office is at 22 Maisies Way, The Village, South Normanton, Derbyshire, DE55 2DS.
- Midlands Asset Finance Limited is a credit broker authorised and regulated by the Financial Conduct Authority (FCA FRN 734580). You can check Midlands Asset Finance Limited registration on the Financial Services Register by visiting www.fca.org.uk/register or by contacting the FCA on 0800 111 6768 (freephone) or 0300 500 8082 or by emailing [email protected].
- We will promptly advise You if at any time this authorisation is removed or suspended.
- The data controller registration number of Midlands Asset Finance Limited is Z1921169 and You can check Our registration on the Data Protection Public Register by visiting www.ico.org.uk/esdwebpages/search.
- Our VAT number is 982 5378 77.
- Your contractual relationship in relation to Our Website and Our Services is at all times with Midlands Asset Finance Limited and not with any of Our partners, third party service providers or their subcontractors.
Asset Finance Compared™ is a website that collates information about your business and details of the asset you are looking to purchase. We do not compare the whole market of asset finance providers, but instead we compare a wide panel of top-tier banks and asset finance providers that cover all the sectors and assets detailed in our website platform, as well as your business risk profiles, over two products, Hire Purchase and Finance Lease.
Rather than display a summary of all funders and their pricing, we issue you with our best, single quote, based on the options and inputs that you provide. We choose the funder which best matches you in terms of asset type, credit appetite and price depending upon the customer’s financial standing. For start-ups and newly formed businesses in their early years of trading, we may require some additional information before we can obtain credit approval.
We provide an instant quote that is subject to final credit approval, documentation and the agreed terms and conditions of the specific asset finance provider. We will never pass you on to deal directly with a third party funder, as we handle the process from documentation through to payout of the funds in-house.
Once you have accepted the quote, we obtain credit approval. After you have confirmed that the terms and conditions are acceptable, we will liaise with the supplier, and then issue the relevant funder documentation for signing, and arrange payout of the transaction.
All quotations are subject to credit approval, documentation and agreed terms and conditions. The rate quoted is subject to credit and movements in our funder’s costs of funds, including liquidity premiums, to the point of funding.
About our quotations or advice
- The suitability of our quotations depends on you providing accurate information regarding your business and funding requirements.
- The rate quoted is subject to credit approval, movements in the relevant funder’s costs of funds, including liquidity premiums, up to the point of you receiving the funding.
- Tax treatments are in accordance with current Statements of Accounting Practice. The VAT and other tax restrictions described apply to new and some used cars. The restrictions do not apply to commercial vehicles and other assets. You are responsible for the ongoing maintenance of the asset, unless stated otherwise.
- The value of any tax benefits to you depends on your individual circumstances, the Law and Her Majesty's Revenue & Customs (HMRC) practice, which are subject to change.
- The information given is for guidance only. It is not intended as a substitute for professional advice, and you should ask your accountant and solicitor to advise you on the implications for your business of any of the funding options that your search reveals, as these may vary depending on your business circumstances.
- By requesting a quotation on our website, You consent to Us sharing Your company and, if You are a director or owner of the company, Your personal data with credit reference agencies to carry out quotation searches on Your behalf. The quotation search is a soft search and will only leave a soft footprint on your credit file and can only be viewed by you. Where carried out, a record of the quotation searches will be recorded on Your credit report in the name of Midlands Asset Finance Limited, but will not be seen by other lenders. These searches will not affect Your credit rating and are undertaken to establish your residency and identity, to protect you for fraud prevention purposes. If You choose to pursue an offer with a third party funder, they may wish to perform a full credit search on You and/or Your business as part of their full application process. Full credit searches are recorded on Your credit reports and can be seen by other lenders.
- A full credit search may however be required by the funder as a condition of sanction of the facilities. For Sole Proprietorships or Partnerships, a full credit search will be required by the funder in order for the transaction to be formally credit approved. For Limited companies and LLP’s trading less than 3 years, full credit searches may be required on the directors for the transaction to be formally credit approved.
- If a full search is required this would be carried out by the third party funder and not by Midlands Asset Finance Limited. Please be aware that multiple full searches against either You or Your business may have an adverse impact on Your credit score.
- Our aim is at all times to provide You with an excellent service. If You are unhappy with Our service for any reason, please contact Our Customer Services Team by writing to Midland Asset Finance Limited, 22 Maisies Way, The Village, Derbyshire. DE55 2DS or email [email protected].
- We will aim to resolve Your complaint within 48 hours. If We are not able to do so, We will provide You with an acknowledgement. After We have had an opportunity to investigate Your concerns, We will issue You with a final response.
- Depending on the nature of Your complaint and if You remain dissatisfied with Our response, You may have the right to refer Your case to the Financial Ombudsman Service at South Quay Plaza, 183 Marsh Wall, London, E14 9SR; telephone: 0800 023 4 567; email: [email protected]; website http://www.financial-ombudsman.org.uk/. We will advise You if this right of referral applies to You.
- If You are unhappy with any product You have obtained from a third party or have any complaint regarding any third party, You should address Your complaint directly to that third party. If You require their contact details, please contact Our Customer Services Team who will be happy to assist.
- The Terms are governed by and interpreted in accordance with the laws of England and Wales and English courts will have exclusive jurisdiction in respect of any dispute, which may arise.
Last updated January 2017.