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Initial Disclosure Document

Please read carefully to understand your rights and the services we provide.

Important Information

The Financial Conduct Authority is the independent regulator of financial services. The Financial Conduct Authority requires Citygate Leasing Ltd (referred to as ‘us’ and ‘we’ hereon) to provide you with a document called an 'Initial Disclosure Document'. This document provides information about us, the products we offer, the services we will provide, what we charge for our services, who regulates us, what to do if you have a complaint, and details about the Financial Services Compensation Scheme.

Who regulates us?

Citygate Leasing Limited is an appointed representative of ITC Compliance which is authorised and regulated by the Financial Conduct Authority (their registration number is 313486). Our Firm Reference Number is 1021404.

We have permitted activities for credit broking and debt-counselling.

You may check this information on the FCA’s Register by visiting www.fca.org.uk/register or by contacting them on 0800 111 6768 (Freephone) or 0300 500 8082 from the UK, or +44 207 066 1000 from abroad.

Some of the services that we provide are not regulated by the Financial Conduct Authority. You will be advised in advance of any such proposal or service.

What services do we provide?

  1. We offer vehicle leasing and contract hire products. All our products are related to the leasing and hire of a vehicle.
  2. We do not fund any credit contracts ourselves. All credit applications are introduced to a third-party lender. We are a Broker not a Lender.
  3. You will not receive advice or a recommendation from us. We have provided you with product information enabling you to make your choice about how to proceed. We do not act as a financial adviser, or fiduciary.
  4. We encourage you to ask us at any stage about anything that is unclear and obtain independent advice if you still do not fully
    understand the credit arrangements.
  5. Please note unless we are satisfied you fully understand the terms and conditions of the finance you are applying for, we will be unable to make the introduction to the finance company. This is for your protection and ours.
  6. We recognise it is important for customers to be able to shop around for credit and alternative sources of credit.

What we will do.

  1. Explain the key features of the regulated credit agreement to enable you to make an informed choice.
  2. Take reasonable steps to satisfy ourselves that a product we offer to you is not unsuitable for your needs and circumstances.
  3. Advise you to read, and allow you sufficient opportunity to consider, the terms and conditions of a credit agreement before entering into it.
  4. Before referring you to a third party which carries out regulated activities we will obtain your consent, after having explained to you why your details are to be disclosed to that third party.
  5. Before effecting an introduction of you to a lender we will explain how, when and where you may exercise your cancellation rights.

Quotations

We will quote figures based on our funder’s cost of funds. The funder has the right to change or decline these quotes on receipt of the full proposal.

The Cost of our Services and Commission

We charge a processing fee which covers the costs incurred for processing your agreement. Citygate Leasing Limited charge a processing fee of £200.00+ VAT (£240.00 incl. VAT) for our services and this is payable by invoice/bank transfer once finance approval has been received and you sign a vehicle order form. An invoice will be raised and provided to you in order to pay this invoice.

We do not act as a financial adviser, or fiduciary. We act in our own interest, whichever lender we introduce you to, we will typically receive commission from them based on either a fixed fee or a fixed percentage of the amount you borrow. Any and all commission amounts will be fully disclosed to you as part of your sales journey. Any commission you pay will affect your monthly rental. You will be required to give your fully informed consent to our receipt of this commission. By doing this, you acknowledge that you understand our role as a credit broker, and that we will receive a financial incentive if you take out a vehicle lease from a lender that we introduce you to.

Conflicts of Interest

If through exceptional circumstances Citygate Leasing Limited or any of its directors or other customers has a material interest in business you ask to be transacted for you, we will make you aware of the conflict of interest and we will obtain your consent before your instructions are carried out. A copy of our Conflicts of Interest Policy is available on request 

If you have a complaint

We always aim to provide a first class service, however if you have any cause for complaint any enquiry can be raised by either email, in writing or by telephoning.

Please visit our complaints procedure page.

Email: leasingcomplaints@citygate.co.uk
Website: http://www.citygateleasing.co.uk
Telephone: 0330 008 2244
Write to: Citygate Leasing Limited, The Weighbridge, Brewery Courtyard, Marlow, Buckinghamshire United Kingdom, SL7 2FF

Should you remain dissatisfied you have the right to ask the Financial Ombudsman Service to review your case.

You should write to the Financial Ombudsman Service, Exchange Tower, London, E14 9SR.

Telephone 0800 023 4567 or 0300 123 9123.

Web address www.financial-ombudsman.org.uk

You may be entitled to compensation should we be unable to meet our liabilities as an insurance intermediary under the Financial Services Compensation Scheme (FSCS). Your entitlement to compensation will depend upon the type of business and the circumstances of your claim. Insurance advising and arranging is covered for 90% of the claim, without any upper limit or for compulsory classes of insurance, insurance advising and arranging
is covered for 100% of the claim, without any upper limit. Further information about compensation scheme arrangements is available from FSCS.

Details of ITC Compliance

ITC Compliance Limited's authorisation can be confirmed by contacting the FCA on 0800 111 6768 or by visiting the FCA's website http://www.fca.org.uk/register

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. 

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 additional guidance and support. 

Should you require any additional support during your purchase please visit our links page 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.