Frequently asked questions
Who are we?
Redgate Lodge Ltd, a dealership acting as a credit broker in arranging finance for vehicle transactions.
Our registered office address is: New York Road, Shiremoor, Newcastle-upon-Tyne, NE27 0ER. Registered in England.
Company registration no. 08274506. Contact details: Email: enquiries@redgatelodge.co.uk. Tel: 0191 266 1081
Are we authorised to arrange finance for you?
Yes, we are authorised and regulated for credit-broking activities by the Financial Conduct Authority (“FCA”). We are not a lender. Our FCA Firm Reference Number is 685341. For more information, please visit the FCA website at: https://register.fca.org.uk/. Please note that business customers may not be protected under the Consumer Credit Act 1974 or FCA rules.
What can we do to help finance your vehicle?
We can introduce you (whether direct or through a specialist credit broker) to a limited number of finance companies (“funders”) who may be able to finance your transaction. If you request it, we can provide a list of lenders we work with. There are other funders to which we cannot introduce you to which may also be able to offer you finance.
We will provide you with information and explanations about the finance products that may be available to you and, where we recommend a product to you, we will ensure that this is based on the information you give us about your needs and circumstances so that it is suitable for you. Finance is arranged subject to status and terms and conditions. We cannot guarantee that we will be able to secure finance for you. Please be aware that a hard search could potentially be made on your credit profile.
Can we give you independent financial advice?
We are not independent financial advisers and so are unable to provide you with independent financial advice. We are, however, independent of the funders and brokers we work with.
Do you have to pay for our service or do we receive any commission?
You don’t have to pay us for our service. However, a finance company we work with will pay us for introducing you to them if your application is accepted and you decide to proceed. Different finance companies will pay us different amounts of commission. Commission will be calculated as a percentage of the amount of credit you take. The commission we receive will vary according to the amount of credit you take or the finance company’s assessment of your credit risk. The amount of commission we will receive will be confirmed to you by us when your application is accepted by a finance company. The amount may change based on any acceptance criteria requested by the finance company or if the terms of the deal change between now and delivery of your vehicle (e.g. if the amount of credit you are taking changes.) The final amount of commission, however, will be confirmed to you before you are asked to sign the finance documentation
Please note that we cannot change the interest rate you pay in order for us to receive either more or less commission from any particular finance company. Whilst rates and commissions may vary between finance companies, our aim is always to secure finance from them which is appropriate to your circumstances.
If you feel you require or would benefit from impartial advice related to your potential finance options, then you must arrange to receive this advice independently and we are entirely comfortable for you to do so.
If we are successful in obtaining an offer of finance for you and you would like to know the amount (or likely amount) we would receive if you decided to go ahead with the agreement and how that amount has been calculated, please contact us using the details above
How will we use your information?
We will use your information to obtain quotes from funders and brokers to process finance applications through them and we and/or they may also conduct a search of your record held with one or more credit reference agencies. Credit checks may as a result appear on your credit file lodged by organisations with whom you have not dealt directly. The personal information collected will also be shared with fraud prevention agencies who will use it to prevent fraud and money laundering and to verify your identity. If fraud is detected you could be refused certain services, finance or employment.
Further details of how your information will be used by us, funders and these fraud prevention agencies. A full data protection notice/ privacy policy will be provided to you before we submit any application for finance on your behalf.
We are registered as a data controller with the Information Commissioner’s Office under registration number ZA884114.
What can you do if you wish to complain about our services or contact us?
If you wish to make a complaint, please contact us:
* by writing to us at Redgate Lodge Ltd, New York Road, Shiremoor, Newcastle-upon-Tyne, NE27 0ER
* by emailing peter@redgatelodge.co.uk
* by telephoning 0191 266 1081
If, after making a complaint to us you are still unhappy and feel the matter has not been resolved to your satisfaction, please contact the Financial Ombudsman Service (“FOS” – www.financial-ombudsman.org.uk). Please note that FOS may not be able to deal with complaints from business customers.
Further details about our complaints procedure and FOS are available on request.
If you require further information, please contact us by telephoning the above number(s) or emailing us at peter@redgatelodge.co.uk addressing your correspondence to the Complaints Manager.
