OUR CONSUMER DUTY COMMITMENT

INTRODUCTION

AT WARWICK FINANCIAL SERVICES LIMITED, WE ARE COMMITTED TO DELIVERING GOOD OUTCOMES FOR OUR CUSTOMERS, BEFORE, DURING, AND AFTER THEY USE OUR SERVICE.

AS AN FCA-AUTHORISED CREDIT BROKER, WE OPERATE UNDER THE FINANCIAL CONDUCT AUTHORITY'S CONSUMER DUTY, WHICH SETS A HIGHER STANDARD OF CARE FOR ALL FIRMS IN RETAIL FINANCIAL SERVICES. OUR JOB IS TO CONNECT CUSTOMERS WITH REGULATED LENDERS OFFERING SUITABLE AND FAIR CREDIT OPTIONS, AND TO ENSURE THAT EVERY INTERACTION REFLECTS THE DUTY'S CORE FOCUS OF PUTTING YOU, THE CUSTOMER, FIRST.

WHAT IS THE CONSUMER DUTY?

THE CONSUMER DUTY CAME INTO EFFECT IN JULY 2023. IT REQUIRES FIRMS LIKE OURS TO:

• ACT IN GOOD FAITH TOWARD CUSTOMERS
• AVOID FORESEEABLE HARM
• SUPPORT CUSTOMERS IN ACHIEVING THEIR FINANCIAL OBJECTIVES

TO MEET THESE STANDARDS, THE DUTY SETS OUT FOUR KEY OUTCOMES THAT WE MUST DELIVER:

• PRODUCTS AND SERVICES – OUR PRODUCTS AND SERVICES THAT WE PROVIDE TO YOU MUST MEET YOUR NEEDS
• PRICE AND VALUE – WE HAVE TO MAKE SURE WHAT YOU PAY FOR A PRODUCT OR SERVICE IS FAIR AND REPRESENTS VALUE FOR THE BENEFITS YOU RECEIVE
• CONSUMER UNDERSTANDING – THE INFORMATION THAT WE GIVE YOU SHOULD BE CLEAR AND EASY TO UNDERSTAND AND WE SHOULD GIVE YOU THAT INFORMATION AT THE RIGHT TIME
• CONSUMER SUPPORT – OUR SUPPORT MUST BE RESPONSIVE AND EASY TO ACCESS AND GIVE YOU THE HELP THAT YOU NEED

HOW WE DELIVER GOOD OUTCOMES?

WE ARE A BROKER, NOT A LENDER

WE HELP CUSTOMERS FIND SUITABLE CREDIT OPTIONS FROM A PANEL OF REGULATED LENDERS. WE DO NOT MAKE LENDING DECISIONS, SET LOAN TERMS, OR HANDLE REPAYMENTS. ALL LENDING DECISIONS AND CONTRACTS ARE MADE DIRECTLY BETWEEN THE CUSTOMER AND THE LENDER.

WE WILL ALWAYS BE TRANSPARENT ABOUT THIS ROLE.

CLEAR AND HONEST INFORMATION

WE ARE COMMITTED TO PROVIDING CLEAR, JARGON-FREE INFORMATION AT EVERY STAGE OF THE CUSTOMER JOURNEY. OUR WEBSITE CONTENT, CUSTOMER COMMUNICATIONS AND DISCLOSURES ARE WRITTEN WITH SIMPLICITY IN MIND, TO SUPPORT CONFIDENT DECISION-MAKING.

WE DO NOT CHARGE CUSTOMERS TO USE OUR SERVICE, AND WE MAKE IT CLEAR HOW WE ARE PAID (TYPICALLY BY THE LENDER) AND WHAT THAT MEANS FOR YOU.

FAIR VALUE AND SUITABILITY

WE REGULARLY REVIEW THE PRICING, COMMISSION ARRANGEMENTS, AND OUTCOMES ASSOCIATED WITH THE LENDERS WE WORK WITH. WE WILL NOT WORK WITH LENDERS WHOSE PRODUCTS CONSISTENTLY DELIVER POOR VALUE OR CAUSE HARM TO CUSTOMERS.

WE ASSESS APPLICATIONS TO HELP MATCH CUSTOMERS WITH LENDERS LIKELY TO APPROVE THEM, BASED ON THEIR FINANCIAL PROFILE AND NEEDS.

SUPPORT FOR ALL CUSTOMERS

WE UNDERSTAND THAT NOT EVERY CUSTOMER HAS THE SAME NEEDS OR CIRCUMSTANCES. OUR STAFF ARE TRAINED TO RECOGNISE AND RESPOND TO SIGNS OF VULNERABILITY. WHERE EXTRA HELP IS NEEDED, SUCH AS MORE TIME, CLEARER EXPLANATIONS, OR SUPPORT, WE AIM TO RESPOND WITH CARE, FLEXIBILITY AND EMPATHY.

YOU CAN CONTACT US BY PHONE, EMAIL, OR POST, AND WE NEVER MAKE IT DIFFICULT TO REACH US.

HANDLING COMPLAINTS PROPERLY

IF SOMETHING GOES WRONG, WE TAKE IT SERIOUSLY. WE HAVE A DEDICATED COMPLAINTS PROCEDURE THAT ENSURES YOUR CONCERNS ARE DEALT WITH FAIRLY AND IN LINE WITH FCA RULES. WE ALSO USE COMPLAINT FEEDBACK TO IMPROVE HOW WE OPERATE.

HOW WE MONITOR OUTCOMES

WE REGULARLY REVIEW:

• CUSTOMER COMPLAINTS AND FEEDBACK
• WEBSITE CONTENT AND COMMUNICATIONS
• LENDER OUTCOMES, INCLUDING APPROVAL AND DECLINE RATES
• STAFF TRAINING AND CONDUCT
• ANY SIGNS OF HARM, CONFUSION, OR POOR VALUE

NEED SUPPORT OR WANT TO GIVE FEEDBACK?

WE ARE HERE TO HELP. WHETHER YOU NEED SUPPORT UNDERSTANDING A PRODUCT, OR YOU WANT TO SHARE YOUR EXPERIENCE, WE WELCOME YOUR CONTACT.