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Regulatory and legal information

We’ve set out here some important information about who we are, the products we can offer you, how the finance application process works (including the payment of commission to introducers) and how we use your information.

If you have a question about an existing agreement with us, please check our FAQs here or register on our Customer Portal.

Mann Island Finance is a trading style of MI Vehicle Finance Limited (MIVF), a lender, which is part of the Investec group of companies (the ‘Investec Group’).  Our registered office is Reading International Business Park, Reading, RG2 6AA. Registered in England. Company registration no. 05643927.

MIVF specialises in motor finance and can consider applications from both private and business customers.  Applications are usually made through its network of dealers and brokers (‘introducers’) on behalf of their customers.  We can finance cars, vans, motorhomes and caravans.

No, this is not possible. We can only accept an application in the name of the main driver of the vehicle who must also be the registered keeper and insurance policy holder throughout the length of the agreement.

We do allow applications to be submitted in joint names and these will be assessed subject to certain eligibility criteria.

Your introducer (normally a motor dealer or broker) is not our agent but acts independently as a credit broker in its own right, although we will pay it commission for introducing you to us.  For more information about this see “Do you have to pay for our service?” below.

Your introducer will have arrangements in place to refer applications for finance to a limited number of funders like us. It will be able to provide you with information to help you select a product from one of those funders.  It may also recommend a particular product to you but it is not an independent financial adviser and won’t have access to the whole finance market, so it can’t advise you on the full range of finance terms or products which may be available.

MIVF offers hire purchase (HP), personal contract purchase (PCP), lease purchase and finance lease products.  We can’t guarantee we’ll be able to offer you finance, as your application is subject to creditworthiness checks and other conditions.  We also can’t guarantee that our finance terms are the best in the market, so you may be able to obtain finance elsewhere which is more affordable for you or more suited to your particular circumstances

It’s important that you understand the key features of the finance you’re applying for (for example, any annual mileage restrictions and charges), your commitment to make payments and the consequences if you don’t.

If you’re not sure whether a particular finance product is suitable for you, we strongly recommend you consider options available from other sources or take independent advice before you commit to an agreement with us.

Further information on the different kinds of finance products available can be found at http://www.financingyourcar.org.uk/car-finance.  The Money Helper website (at https://www.moneyhelper.org.uk) also contains free and impartial advice on borrowing and debt, including a useful section here on car finance. You can also call them on 0800 138 7777.

You’ll only have to pay us if your application for finance is accepted and you enter into a finance agreement (eg, an HP or PCP agreement) with us. You’ll then make monthly payments to us, which will include interest charges to cover our costs. We may make other charges but these will be notified to you before you enter into the agreement.

We’ll make a commission payment to your introducer if you take out finance with us. This payment will normally be calculated as a percentage of the amount of finance we provide.  The sum paid will vary according to the commission rates agreed with your introducer, but these rates are set in advance and can’t be changed for a given customer.  The rates of commission we pay to your introducer are taken into account when we set our general finance rates, but the amount paid will not directly affect the finance terms we’ve offered you.

Your introducer must also disclose to you the basis on which it receives payment for finance introductions. This includes where it has recommended a product which pays it a greater commission and where the interest rate charged to you may consequently be higher.

Please contact us if you’d like further details about the commission we pay, or ask your introducer, who must tell you how much it receives on your request.

Yes, we are authorised and regulated by the Financial Conduct Authority (‘FCA’ – Firm Reference Number 718729) for credit-related regulated activities. For more information, please visit the FCA website here. Please note that business customers may not be protected under the Consumer Credit Act 1974 or FCA rules.

We are registered as a data controller with the Information Commissioner’s Office under Registration Number ZA081781.

We are also members of the Finance & Leasing Association and subscribe to its Lending Code, under which we make various commitments to our customers. The Lending Code can be downloaded from: https://www.fla.org.uk/consumer-information/lending-code/.

No, we are not independent financial advisers and so are unable to provide you with independent financial advice.

Your broker or dealer may be able to assist you in selecting a product but they will not be able to provide you with access to products from the whole of the market or give you independent financial advice.  See the section above headed “What part do introducers play in arranging your finance?”

If you’re not sure whether a particular finance product is suitable for you, we strongly recommend you consider options available from other sources or take independent advice before you commit to an agreement with us.

Your introducer must provide you with its Data Protection Notice (sometimes called a Privacy Policy), setting out how it processes your information.  The notice should also include details of the personal data which any finance company needs to obtain from you and from third parties in order to deal with your application, the processing it carries out in respect of that data (including keeping hold of that data), and its legal basis for that processing. MIVF will use your information to process your finance applications and to assess creditworthiness. The personal data of any joint applicant or guarantor is processed on the same basis.  We’ll conduct searches of your record held with one or more credit reference agencies. The personal information collected will also be shared with fraud prevention agencies who will use it to prevent fraud and money-laundering and to verify your identity. If fraud is detected you could be refused certain services, finance or employment. Full details of how MIVF manages and uses customer data both before and after a finance application is accepted can be found at  www.mannisland.co.uk/mivf-data-protection, where you can also find details of the credit reference and fraud prevention agencies that MIVF uses, and information about your data protection rights. MIVF may pass your data on to other companies within the Investec Group, some of which are located in countries outside the UK and the European Economic Area (including in South Africa).  They and MIVF may contact you periodically by telephone and/or post to provide information regarding events, products, services and content that may be of interest to you, unless you tell us that you do not wish to receive marketing or market research from us. The Investec Group will not send you marketing or market research requests by email or other electronic means unless you agree to this. Processing for marketing purposes applies to the principal applicant. Any secondary joint applicant or guarantor will not be marketed. If at any time you wish to stop receiving marketing or market research from the Investec Group, please use the “unsubscribe” link in the communication or contact us at [email protected]

Please see our Complaints section for details of how to make a complaint to us and our complaint-handling procedure.

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