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Partner with Finset



COMPLAINTS POLICY AND PROCEDURE


1.         Purpose

a)         This document represents our policy towards complaints, how a consumer can make them and how as a company we handle them.

b)         This policy and procedure have been created to meet general standards and requirements and complies with standard complaint handling procedures, including the Financial Ombudsman Service (FOS) and FCA regulations such as CONC and DISP.

c)         We take our responsibilities seriously, in addition to the legal and regulatory requirements we have as a financial firm.

d)         We are committed to ensuring the fair treatment of our consumers and ensuring they face no post sale barriers with our service, and we have effective and transparent procedures in place.

e)         As a business we ensure that complaints can be made using any reasonable means and recognise complaints require a resolution.  

2.         Definition

As per FCA material, they define a complaint as the following –

‘Any oral or written expression of dissatisfaction, whether justified or not, from, or on behalf of, a person about the provision of, or failure to provide, a financial service, claims management service or a redress determination, which alleges that the complainant has suffered (or may suffer) financial loss, material distress or material inconvenience.’  

3.         Customer Complaints Procedure

‘Our aim is always to provide an exceptionally high level of service to all of our customers. Where customers are unsatisfied, it’s important to us that this is dealt with objectively, fairly and as quickly as we are able to.’  

The following procedure explains how we deal with complaints, our commitments to you and what action to take if you think your complaint has not been resolved to your satisfaction. If you have a complaint about any aspect of our service, then we would like to hear from you.

Please use the below details to let us know:
• Telephone: 01245967999
• Email: resolutions@finset.co.uk
• Post: Finset Limited, 64 – 66 Burgundy House, Springfield Road, Chelmsford, Essex CM2 6JY

We kindly ask, so we can look into your complaint as quickly as possible. You include as much detail as you can, however if we are missing anything we will be in touch. We will aim to come back to you within 48 working hours of receiving your complaint.

If we are able to investigate and resolve your complaint within 3 days, you will receive a summary resolution response from ourselves, which will detail our outcome and findings.

In the event our investigations take longer than 3 days, we will issue you a Final Response within the 8-week timescale. Whilst we try to close any complaint before this 8-week time frame, we do need to make you aware we do have this time. Our final response will include detailed information of your complaint, our investigation and the resolution we have come to. If you are not satisfied with our Final Response or the handling of your complaint within the 8-week time frame, you can contact the Financial Ombudsman service using the details below. You must do this within six months of our final response.

W: www.financial-ombudsman.org.uk
T: 0800 023 4567P: Exchange Tower, Harbour Exchange, London, E14 9SR

                                                     Motor commission complaints

If your complaint is regarding a Discretionary Commission Arrangement on a finance agreement (such as a Hire Purchase, Conditional Sale or Personal Contract Purchase) used to purchase your vehicle before 28th January 2021, please take note of the following information. If you have any questions, do not hesitate to contact us.


On the 11th January 2024 the Financial Conduct Authority (FCA) announced their intention to review historical motor finance discretionary commission arrangements across the motor finance industry.

As a part of this, the FCA has confirmed:

* They are pausing the 8-week deadline for motor finance firms to provide a final response to relevant customer complaints. The pause will apply to complaints about motor finance agreements where there was a discretionary commission arrangement between the lender and the broker and will last for 37 weeks (approximately 9 months).

* Consumers will have up to 15 months to refer their complaint to the Financial Ombudsman, rather than the usual 6 months. This extension applies to complaints where the firm sent a final response in the period beginning 12 July 2023 and ending on 20th November 2024.

For more information please see:
Car finance complaints | FCA
https://www.fca.org.uk/consumers/car-finance-complaints

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