How We Are Paid

A word about how we are paid

As a credit broker authorised and regulated by the FCA  (you can find us on the Financial Services Register here – our Firm Reference Number is 631176) we work with many different lending and broker partners. Some of those pay us for an introduction leading  to a finance agreement. And some introduce to us and we might pay them if we earn anything from that introduction.

Although we don’t charge the applicant directly, the lender will account for our cost in the margin of their agreement. This amount also accounts for the cost of anyone we pay for the introduction,  as we pay them out of the revenue we earn.

The interest rate you pay on your agreement is fixed by reference to your credit score, the type and age of purchase you make, the amount you borrow and the length of time you borrow it. These are known risk factors and the rate you will pay will be fixed solely by reference to these risk factors.This means that we will have no ability to negotiate a lower rate for you, or increase the rate to increase our commission. The price you will pay for finance through our panel of lenders will be the same as a similar customer approaching us to make a similar purchase around the same time, from the same route of acquisition.

Our dealer partners have a matrix which they use specific to their customer profiles just as we do. This means that if you approach us through a dealer your rate will be determined by the matrix agreed with that dealer. This may or may not be the same as the matrix we use for customers that approach us direct. Unfortunately we cannot move you from dealer introduced to direct, or the other way around, so your matrix is fixed at the point of entry into our business. If none of our panel of lenders will make you an offer at the rate fixed by our matrix but they make you an offer which is higher or lower we are still bound by law  to tell you what the offer is, so you won’t miss out.

Typical matrix per route of acquisition:

 

 

 

A

B

C

D

Base APR

 

 

Fixed

Fixed +1%

Fixed +2%

Irregular

Adjustment 1 (Asset)

 

Base multiplier

 

 

Adjustment 2 (Term)

 

-1%

No adjustment

No adjustment

+1%

Adjustment 3 (Advance)

 

-1%

No adjustment

+1%

+2%

 

You can ask us what we will expect to earn from your deal and we will tell you. Our expertise in matching you to a lender who has an appetite for your business, on the terms we have negotiated with them in advance for customers like you, and the care we take to ensure that you understand the offer which is made to you, as well as our famously personal service and knowledge of the sector is the reason you’re chosing Creative™.

We’re small enough to know you and big enough to help.