Initial Disclosure Document (IDD)

Who are we?

Maguires Garage

534-538 Falls Road
Belfast
County Antrim
BT12 6EQ

Tel: 02890 613 141
Email: [email protected]
Website: https://www.maguiresgarage.co.uk

Who regulates us?

The Financial Conduct Authority (FCA) is the independent watchdog that regulates financial services.

Maguires Garage is authorised and regulated by the Financial Conduct Authority, for credit brokerage. FCA number: 674381. We are a credit broker and not a lender.

You can check this information at https://www.fca.org.uk/

Use this information to decide if our services are right for you.

What will you have to pay us for our services?

We will receive a commission from the lender, as either a fixed fee or a fixed percentage on the amount you borrow. These arrangements are negotiated with our lenders in advance and do not give us any discretion to negotiate or adjust your annual percentage rate (APR) or any other item included in the total charge for credit. The APR may vary according to your credit status or the amount you borrow. The commission we earn does not change in relation to the type of finance (Hire Purchase, Personal Loan or Personal Contract Purchase) you choose or the length of the finance agreement.

The lenders we work with could pay commission at different rates. However, the amount of commission that we receive from the lender is predetermined and cannot be changed for your agreement.

We will confirm the likely amount of commission we will receive for arranging your finance agreement in good time, before you sign the finance agreement.

We do not charge you a fee for our services, but the commission we receive from the lender impacts the amount you pay.

Which service will we provide for you?

We act as a credit broker not a lender. We work with a number of carefully selected credit providers who may be able to offer you finance for your purchase. (Written Quotation available upon request). Each credit provider may have different interest rates and charges.

We are only able to offer finance products from these providers, which may be suitable for you, and we will explain the key features of your chosen product to you. As a credit broker with a limited panel of preferred credit providers from whom we receive commission, is not impartial and is free to prefer its own interests.

In line with our regulatory requirements, we will try to get you the finance arrangement you were quoted from our limited panel of credit providers or a suitable alternative offer and the commission we receive will never be our primary decision of which lender to place you with.

However, we may be influenced by the amount of commission we earn, this means you should not think we are giving financial advice or a recommendation to you. Depending on your circumstances you may be able to negotiate a better or different finance arrangement if you shop around.

We are NOT independent financial advisors. We will provide details of the products available from the credit providers that we work with, but no advice or recommendation will be made. You must decide whether the finance product is right for you.

All finance is subject to status and income. Terms and conditions apply. Applicants must be 18 years or over.

Our Insurance Services:

We do not offer any insurance products.

What to do if you have a complaint

To register a complaint contact us by either:

Tel: 02890 613 141
Email: [email protected]

or write to us at:

Maguires Garage
534-538 Falls Road
Belfast
County Antrim
BT12 6EQ