This document explains the service you are being offered in relation to finance and insurance. Please read this important document and use the information provided to decide if our services are right for you. Should you require further support to assist you in understanding our products and services please let us know.
Who Regulates us?
The Financial Conduct Authority (FCA) is the independent regulator of the Financial Services market in the United Kingdom.
Finance: Hendy Group Limited is authorised and regulated by the Financial Conduct Authority (FCA) (our registration number is 311625). Permitted activities include acting as a credit broker not a lender.
Insurance: Hendy Group Limited is an appointed representative of ITC Compliance which is authorised and regulated by the Financial Conduct Authority (their registration number is 313486). Permitted activities include advising on and arranging general insurance contracts as an intermediary.
You can check our authority on the FCA Register here https://register.fca.org.uk/s/ or by contacting the Financial Conduct Authority directly on 0300 500 8082.
Whose Products Do We Offer?
We offer Guaranteed Asset Protection (GAP) insurance from a single provider - GardX International Limited.
We offer a Cosmetic Maintenance Plan and a Tyre & Alloy Maintenance Plan from a single provider – GardX International Limited. These plans are not insurance policies and therefore are not regulated by the Financial Conduct Authority.
Should you require finance to assist with the purchase of your vehicle, we can introduce you to a limited number of lenders and finance products. The lenders we work with are as follows:
Which Products and Services Will We Provide You With?
We are a credit broker and not a lender. We will explain the finance products available to you from the lenders we work with and advise you on the suitability of those finance products after we have assessed your needs. You can then make an informed decision on how to proceed.
We will introduce you to a selected lender first. If they are unable to make you an offer for finance, we will then introduce you to up to two further lenders in our panel. If our main panel of lenders do not make an offer of finance to you, we will introduce you to Evolution Funding Limited, who will look to obtain a finance offer for you.
We are not an independent financial advisor and we do not assess the wider market for finance or insurance, or provide any advice on whether the products we offer represent the best value you could obtain.
We will assess your needs for the products we offer by asking you relevant questions to identify which may be suitable for you. We will provide you with information relating to these products and a quotation so that you can make an informed decision on purchase. The purchase of these products is entirely optional.
Basis of our Service
We have taken steps to ensure that if, in the course of advising you, we make a recommendation; such recommendation will be suitable for your demands and needs at the time the recommendation is made. In assessing your demands and needs we may seek such information about your personal circumstances and objectives as might be relevant in order to enable us to identify your requirements. It is important that you provide us with accurate and relevant information.
What Will You Have To Pay Us For Our Services?
We do not charge fees for our Consumer Credit or Insurance services.
We will typically receive a commission from the lender, as either a fixed fee or a fixed percentage of the amount you borrow. The lenders we work with could pay commission at different rates. These arrangements are negotiated with our lenders in advance and do not give us any discretion to negotiate or adjust your APR. The commission we earn does not change in relation to the type of finance you choose or the length of the finance agreement.
If you are an individual, sole trader or limited company, at any time prior to concluding your vehicle purchase, you can ask us for details of any commission we will receive as a result of arranging your finance with a lender. This request can be made to the Sales Advisor handling your sale, or via customerfeedback@hendy-group.com.
If you buy GAP insurance or a maintenance plan, we will typically receive an economic benefit or retain a part of any premium by way of remuneration. Our sales executives are also remunerated on the sale of individual products. Fees may be applied by insurers for such things as mid-term adjustments and cancellations. Please check the individual policy information for full details.
We hold any insurance money (premiums, refunds or claims money) as the agent of the insurer under a risk transfer agreement.
Credit Searches To help you make an informed decision on whether you’d like to apply for motor finance, we’ll complete a ‘soft-search’ on your credit file to find out how likely you are to be accepted for certain finance products from our selected partnered lenders, and your likely rate.
By providing us with your credit details, you will be giving us authority to submit a credit application on your behalf to our partnered lenders. These lenders will complete a credit search on you to determine your suitability for their product offerings. This may result in up to three hard searches being completed on your credit profile, which may impact your credit score and will be visible to other lenders.
What to do if you have a complaint:
If you wish to register a complaint, please contact us:
In writing: Mr Mark Busby, Hendy Group Limited, School Lane, Chandlers Ford Industrial Estate, Eastleigh, SO53 4DG By phone: 023 8070 1700
If your complaint relates to General Insurance, you can also contact ITC Compliance: In writing: 3 Monarch Court The Brooms, Emersons Green, Bristol, BS16 7FH
If you cannot settle your complaint with us, or ITC, you may be entitled to refer it to the Financial Ombudsman Service (FOS).
Are We Covered By The 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 the circumstances of the claim. Insurance advising and arranging is covered for 90% of the claim, without any upper limit. Further information about compensation scheme arrangements is available from the FSCS. You can telephone the FSCS on: 020 7741 4100 or write to them at: Financial Services Compensation Scheme, 10th Floor, Beaufort House, 15 St Botolph Street, London EC3A 7QU.
Distance Marketing
Under distance marketing rules you have a 14-day period in which to cancel the purchase (cooling off period) of the vehicle. If you are obtaining the vehicle on finance this cooling off period does not apply. Full detail will be provided by the finance company within their pre-contractual information.
Confidentiality and Data Protection
Your information will only be disclosed/provided to third parties for the purposes of providing, arranging, administering and renewing insurance contract(s) and for the purposes of monitoring and/or enforcing compliance with regulatory rules/codes. A list of these third parties can be found below. For full details of where your information will be sent and the purpose of such data transfer, please ask us.
Your information will be retained for a period of up to twelve years. During this time, you have the right to obtain details of the information held and how it has been processed. If you would like to exercise any of these rights or have any concerns with how we are processing your data then please contact the Data Protection Officer at Hendy Group Limited, School Lane, Chandlers Ford Industrial Estate, Eastleigh, Hampshire, SO 53 4DG; telephone 023 8062 7531. If we are unable to resolve your concerns then you have the right to refer the matter to the Information Commissioner's Oice. Further details about your rights and how to lodge a complaint can be found on the Information Commissioner's Oice website (www.ico.org.uk/for-thepublic/).’
As an organisation we are committed to our customers receiving good consumer outcomes under the FCAʼs Consumer Duty. The Consumer Duty means you should receive communications you can understand, products and services that meet your needs and offer fair value and you get the customer support you need, when you need it.
Should you require any additional support during your purchase please let us know. You can also visit https://apex-ui.itccompliance.co.uk/support-signposting/ which provides details of organisations who can offer additional guidance and support. If at any time you feel you have not received the information or support you expect from us please contact us at the address or telephone number above.
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