COMMISSION DISCLOSURE DOCUMENT
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For commission paid to Hawkstone Farley Group Ltd trading as Hawkstone Motor Finance for the introduction to our panel of lenders and for successfully attaining finance.
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What is a commission payment?
A commission payment is an amount of money that Hawkstone Farley Group Ltd (“we”, “us”) can receive from a lender as a result of us introducing you to them. If you enter into a Hire Purchase, Lease Purchase, Finance Lease, Personal Contract Purchase, Business Contract Hire or Personal Contract Hire Agreement with a lender that we introduce you to, we will receive a commission payment from them as a result of this introduction.
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What is the amount of commission that we will receive?
If you enter into a finance Agreement, we will receive a percentage commission payment from the lender we introduce you to. We may give a share of this commission payment to the dealership that introduced you to us. If you want to know more about this, please contact us.
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How is the commission payment calculated?
We will receive a commission payment from the finance or hire provider if you decide to enter into an agreement with them. The nature of this commission is as follows: we either receive a fixed fee commission per finance agreement entered into or we receive a commission based on a percentage of the total amount of finance taken by the customer. The lenders we work with consider that the commission earned reflects the work carried out by us as the broker. This includes advertising the finance option, coordinating with the lender to arrange financing, and handling administrative tasks such as completing proposals, processing orders, and managing delivery. Commissions help cover these operational costs, allowing brokers to provide their services without direct fees to customers. This will not affect the amount you pay.
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When will we tell you how much commission we will earn?
We will disclose the amount of any commission received prior to you signing your credit agreement.
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What else do you need to know?
In introducing you to one of our lenders we are not providing you with advice. You should be aware that there might be other forms of credit that may be more appropriate for you depending on your circumstances. We do not consider all finance options that are available in the market. The arrangements that we do have in place with our lenders may vary. We will always endeavour to provide you with the best rate available to you and your circumstances using our panel of lenders.
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GAP Insurance
Upon the successful completion of your application, we will ask if you would like to receive a feedback call from our partners, General Insurance Distribution Ltd. If you accept, we will pass your contact information to them and they will ask you several questions about our compliance and our process. They also offer you GAP insurance. If you choose to purchase gap insurance from General Insurance Distribution Ltd, Hawkstone Farley Group Ltd will receive a commission payment of £35.00. This will not effect the amount you pay.
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