Radar Finance & Leasing Ltd (RFL)
INITIAL DISCLOSURE DOCUMENT (IDD)
Who we are?
Radar Finance & Leasing Ltd (RFL) are Commercial Finance Brokers based at Main Rd, Brailsford, Derby’s, DE6 3DA. We act as a Credit Broker for our customers. Radar Finance & Leasing Ltd are Authorised and Regulated by the Financial Conduct Authority. FRN 675719. This Privacy Notice/IDD sets out how RFL uses any information that you give us via any type of communication between us.
Working with an independent panel of lenders, providing a fair analysis of the relevant market, we will act on your behalf as a Credit Broker and not a lender. We will endeavour to act in your best interests, at all times and will source funding from our panel of lenders suitable to the requirements you disclose to RFL.
Fees/Commission
Unless mutually agreed RFL will not charge you for the services it provides as we normally receive payment by way of a commission from our lending partners. Depending on the type of finance agreement the commission amount is available to you upon request. For accepted Regulated Agreements you will be given a Suitability Letter, prior to signing the Finance Agreement, which will confirm our commission arrangements with that specific lender. We will receive commission for introducing you to our panel of lenders. Different lenders may pay different commissions for such introductions, however the commission received will not affect the impartiality of the recommendation. The amount of commission received is fixed and does not affect the overall cost of credit within your Agreement from these lenders.
PRIVACY NOTICE
Here at RFL we take your privacy seriously and will use your personal & business information in a number of ways which will assist you, us and our third-party funders (You agree to and understand that RFL may pass your data on to more than one funder. In addition to this Privacy Notice a funder may provide their own during an application process which can be provided to you on request or will be provided by the funder themselves) –
- Complete credit applications for you which are sent on to our third-party funding partners for consideration which will include credit checks by either RFL, our funding partners or both.
- Prevent Fraud and money laundering and to verify your identity in order to protect RFL and that of a third party.
- Aid Audit’s and Statistical Analysis.
We and our funding partners may share your information with, and obtain information about you from, credit reference agencies or fraud prevention agencies.
We will not disclose your information to any company outside of RFL and where applicable our third-party funding partners except to help prevent fraud or if required by law to do so.
For further information on how your information is used, how we maintain the security of your information and your rights to access/alter and change information we hold on you, please contact info@radarfinance.com
Additional Marketing
From time to time we would like to contact you with details of other relevant products and offers we provide. If you consent to us contacting you for this purpose, please tick to say how you would like us to contact you.
We would also like to add you to our mailing list and therefore receive eShots with relevant updates. These are sent by email with an easy unsubscribe option. Please indicate your preferred communication route…
Email – Preferred Email Address
Phone – Preferred Tel No –
Text – Preferred Tel No –
Post – Preferred Address –
Should you not wish to receive any of the above please sign here:
Your Data:
What we need
Radar Finance & Leasing Ltd will be what is known as the Controller and Processor of the data you provide to us. We collect personal & business data about you which may also include any special types of information or location-based information.
We also gather
The categories of information that we may collect include but not limited to – Name, Address, Address History, Residential Status, Email Address, Telephone Numbers, Marital Status, No of dependents, Date of Birth, Employers Name and Address, Occupation, Time in Employment, Bank Details, Driving Licence Number. ID documents required to include Passport, ID Card, Driving Licence, Credit/Debit Card, Wage Slip, P60, Proof of Home Ownership, Proof of Disability, Pensions Statement, Company Accounts, Tenancy Agreements, Bank Statements, Council Tax, Utility Bills.
Our Funders may also require proof of income to ensure affordability. Please note that we may ask for this information to support your Proposal.
Why we need it
We need to know your basic personal and business data in order to provide accurate information for a proposal to be sent to a funder to consider your application. We will not collect any data from you we do not need in order to provide and oversee this service to you.
What we do with it
Automated Decision Making: RFL will pass your data captured to brokers/lenders/funders/banks who may use automated decision-making in respect of your application for finance. We will only collect the minimum amount of data needed and have a clear retention policy for the profiles we create.
You have the right not to be subject to a decision based solely on automated processing, including profiling, which produces legal effects concerning you or any significant affects. You can request human intervention and challenge a decision made this way by contacting info@radarfinance.com Business applications are normally a combination of automated processing & manual human underwriting.
All the data we use is controlled by Radar Finance & Leasing Ltd in the UK, however, for the purposes of IT hosting and maintenance, this information is located on servers within the European Union and/or in a Cloud based storage facility. No 3rd parties have access to your personal data unless the law allows them to do so. We have a Data Protection regime in place to oversee the effective and secure processing of your personal data. More information on this framework can be found www.radarfinance.com
We may pass your data to in order to provide you with offers of products suitable to meet your customer requirements.
Your data is stored electronically on a cloud encrypted server.
How long we keep it
We will keep your data & information that was given at the initial application, during the application and completion stage of a finance agreement for a minimum of 7 years, after which time it will be destroyed. The information used for marketing will be kept with us until you notify us that you no longer wish to receive this information. Declined applications will be kept for a minimum of 6 months.
Credit References agencies will retain the account information given to them for 6 years after your account is closed. Fraud prevention agencies can hold your information for up to 6 years. Before we or our partners provide a facility for you we/they will undertake checks for the purpose of preventing fraud and money laundering. If any party determine you pose a fraud or money laundering risk a facility may be refused or stopped if existing
What are your rights?
If at any point you believe retained information is incorrect you can request to see this information and even have it corrected and possibly deleted. Providing you with this information is free of charge, but charges may apply for excessive requests.
If you wish to raise a complaint on how we have handled your data, you can contact The Data Protection Officer at Radar Finance & Leasing Ltd who will investigate the matter.
Where relevant, you have the right to withdraw consent at any time and this means that we cannot process your data provided without your consent.
If you are not satisfied with our response or believe we are processing your data not in accordance with the law, you can complain to the Information Commissioner’s Office (ICO) by telephoning 0303 123 1113.
Our Data Protection Officer is Radar Finance & Leasing Ltd, you can contact them at info@radarfinance.com
Complaints Handling Procedure
Our aim is to provide you with a professional and confidential service that delivers the highest possible standards. However, there may be occasions where you feel this has not been achieved and should you wish to make a complaint about any aspect of our service we provide to you, you can do this by writing to The Directors or by telephoning 01335 361402 where will try to resolve your concern at the earliest possible time.
A summary of our internal complaints handling procedures for the reasonable and prompt handling of complaints is available on request and of you cannot settle your complaint with us you may be entitled to refer it to the Financial Ombudsman Service at www.financial-ombudsman. org.uk or by contacting them on 0800 023 4457. If the agreement is Contract Hire them please contact BVRLA, www.bvra.co.uk on 01494 545705
Your Consent
We intend to rely on this document for the services we provide to you and request that you provide your agreement to the Charges and Data Protection sections above. For your own benefit and protection, you should read these terms carefully before signing them. If you do not understand any point, please ask for further information.
If this is a joint application or on behalf of a business
Then you must have permission to disclose information about your co- applicant and/or anyone else referred to by you and to authorise the lender to search and/or record information at CRA’s about both of you. By signing below, you confirm you have notified the co applicant and have their authority to pass on the relevant information.
When an application is received for a business, information may be sought from CRA’s on the company directors and/or partners. By signing below, you confirm that you have notified any other directors & partners of this requirement and the contents of this form.
Signed ……………………………………………………………………………………………………………………………………………..
Print Name ………………………………………………………………………………………………………………………………………..
Name of Business if For and on behalf of a business if applicable ………………………………………………………………………………………………………………………
Dated ………………………………………………………………………………………………………………………………………………..
Signature 2 for joint applications ……………………………………………………………………………………………………………………………………….
Print Name ……………………………………………………………………………………………………………………………………….
Dated ……………………………………………………………………………………………………………………………………………….
Radar Finance & Leasing Ltd, Saracens Head Buildings, Main Rd, Brailsford, Derby’s, DE6 3DA
Authorised and Regulated by the Financial Conduct Authority. FRN number 675719
Registered in England and Wales, Company Reg.no. 5256561.
Data Protection No – Z8828275
We are a credit broker not a lender.
Radar Finance & Leasing Ltd, Saracens Head Buildings, Main Rd, Brailsford, Derby’s, DE6 3DA
Authorised and Regulated by the Financial Conduct Authority. FRN number 675719
Registered in England and Wales, Company Reg.no. 5256561.
Data Protection No – Z8828275
We are a credit broker not a lender.