Commission disclosure

Due to a judgment handed down by the Court of Appeal on 25 October 2024, we now require explicit consent from the customer that they agree to you being paid a commission for arranging their vehicle finance. 

 

To meet this requirement, we must set out to the customer the following:

  1. The relationship between us and you
  2. The existence of commission
  3. The nature of the commission
  4. The amount of commission you’ll receive.

Accessing the Commission Disclosure Form

Click the button below to access the Commission Disclosure Form.

 

What do you need to do?

As part of this new requirement, we need to obtain consent from the customer to pay you a commission for setting up their vehicle finance.

 

To do this, we’ve created an electronic signing journey to make this as quick and easy as possible for you and the customer.

 

When proposing customers to us, you’ll now be required to send us details, electronically.

 

Let’s look at the journey:

  1. Submit a customer proposal to us via Showroom and we'll go through our usual underwriting process. 
  2. If the proposal is accepted, the system will show as 'refer' until we've captured your customer's completed Commission Disclosure Form. Please check for additional updates in the notes field.
  3. Once you've submitted your customer's proposal to us, you’ll need to visit the Commission Disclosure Form here
  4. Complete all requested details and proceed through the form as set out in the journey.
  5. Once finalised, an electronic form will be sent to the customer for them to review and sign. This confirms they understand the relationship between us, and consent to the existence, nature and amount of commission you’ll be paid..
  6. Once we receive the completed form, we can update the decision in Showroom which will then show on your system.

 

If you need help at any stage, please contact your account manager or partner hub. Contact details can be found here.

 

We've put together the below video to guide you and your customers through the steps of our new process for proposing new business to us.

Frequently asked questions

    What happens if the customer doesn’t agree to me receiving commission?

    If a customer doesn’t agree to you receiving a commission for setting up their vehicle finance agreement, we’re unable to proceed with their application. They'll need to find an alternative way of paying for their vehicle. 

    What happens if the customer wants me to receive less commission?

    We’re unable to make commission adjustments. In this instance, the customer will need to find an alternative way of paying for their vehicle. 

    My customer hasn’t received the electronic form, what should I do?

    Either re-submit another form, making sure their email is correct, or contact your partner hub to discuss. Contact details can be found here.  

    Why do I need to disclose all these details about the commission?

    Due to a judgment handed down by the Court of Appeal on 25 October 2024, we now require explicit consent from the customer that they agree to you being paid a commission for arranging their vehicle finance.

     

    To meet this requirement, we must set out to the customer the following:

     

    • The relationship between us and you
    • The existence of commission
    • The nature of the commission
    • The amount of commission you’ll receive.

     

    Before their vehicle finance can be set up, the customer must sign a form to say they understand the relationship between us, that they agree to you receiving commission and the amount you’ll receive.

    Will other lenders take a similar approach?

    We’re unable to comment on any action other lenders may or may not take.

    What happens if I don’t want to work in this way?

    As this is now a legal requirement, we need all our partners to explicitly disclose commission to the customer. If you don’t want to do this, unfortunately we’re unable to continue working with you.