Introduction

Midland Credit Limited is authorised and regulated by the Financial Conduct Authority.

As a credit broker, the Financial Conduct Authority expects Midland Credit Limited to ensure that customers are aware of the existence and nature of commissions, fees or other remuneration payable in good time before the credit agreement is entered into.

In addition to this, Midland Credit Limited is also required to disclose the amount (or likely amount if the precise amount is not known) of any commission fee or other remuneration payable by the lender, in good time, before the credit agreement is entered into if any of the following apply:

• from the customer’s perspective, the commission could have unduly influenced the broker into recommending or offering a particular product
• knowing about the existence or amount of the commission would materially impact the customer’s decision in entering the credit agreement
• the customer has formally requested details of the commission.

Process

The existence of a commission is communicated to all of Midland Credit’s customers at the point of taking a customer application for finance. This is disclosed on each page of the website under the Initial Disclosure Document, prior to submitting an application through our website and on written correspondence thereafter.

Fees / Commissions

Midland Credit Limited are a credit broker that can introduce customers to a limited panel of carefully selected credit providers and do not charge our customers a fee for this service.

Our income is generated through a commission which is paid to Midland Credit, when a customer that we have introduced to a lender, enters into a finance agreement with that lender.  The commission amount paid to Midland Credit Limited is set by each lender, either as a fixed fee or fixed percentage of the amount borrowed and may vary by the lender and product.  The interest rate and amount payable under the finance agreement does not affect the commission that Midland Credit receives for the introduction.

Commission Disclosure Request

A Customer may ask for commission disclosure at any time from our initial discussions through to the point when their agreement becomes live. Once received, your request will be actioned by the Compliance Manager within 5 business days.

How do I request a commission disclosure?

If you would like Midland Credit Limited to disclose any commission, please make your request to in writing:

Midland Credit Limited,
Millhouse Business Centre,
Station Road,
Castle Donington,
Derbyshire,
DE74 2NJ

Email: data@midlandcredit.co.uk