Terms of Business

Terms of Business

This document sets out the terms of business between Vector Leasing Ltd (trading as Vector Finance) and its clients.

We are authorised and regulated by the Financial Conduct Authority (FCA) and strictly adhere to their guidance regarding procedural standards, Treating Customers Fairly (TCF), and complaint handling.

Scope of Our Business

Vector Finance is a fully FCA-authorised credit broker. We provide Lease, Loan, and Hire Purchase facilities via both regulated and non-regulated agreements.

These facilities are made available through our Brokerage Panel: Accessing our network of approved third-party lenders.

Charges & Commissions

For Agreements Arranged via Third-Party Lenders

  • No Direct Fee: You will not be charged directly by Vector Finance for arranging standard finance agreements.
  • Brokerage Role: As a credit broker, our role is to determine which lender on our panel is most suitable for your specific needs and financial circumstances.
  • Commission Disclosure: We will receive a commission from the credit provider for introducing you to them. This is typically a fixed fee or a percentage of the amount you borrow.
  • Transparency: Vector will disclose the exact amount of commission we will be receiving from the agreement, which will require sight and approval by the customer.

Insurance

Vector Finance does not provide advice on, nor do we arrange insurance products.

  1. Advice, Recommendations & Duty of Disclosure
  • Tailored Guidance: Any advice provided by your Account Manager is based on the personal or business financial disclosures you provide. It is essential to answer all questions fully and accurately.
  • No Obligation: You are under no obligation to proceed with finance through Vector Finance, and alternative methods of financing may be available to you.
  • Duty of Disclosure: Failure to disclose relevant information or any subsequent change in circumstances may result in the withdrawal of your credit approval.

Acting in Your Best Interests & Conflicts of Interest

If any material interest or potential conflict of interest arises while arranging business for you, we will inform you immediately and obtain your consent before proceeding with your instructions.

Consumer Duty Commitment

In line with the FCA’s Consumer Duty rules, Vector Finance is committed to delivering good outcomes for all customers. We ensure this by:

  • Acting in your best interests at all times.
  • Offering products and services that provide fair value.
  • Delivering clear, timely, and easy-to-understand communication.
  • Supporting customers with extra care, including those in vulnerable circumstances.
  • Handling complaints promptly, transparently, and fairly.

Consumer Rights & Complaints

Withdrawal Rights

For regulated consumer credit agreements, you have a legal right to withdraw within 14 days of signing your agreement without giving a reason. Full details on exercising this right are contained within your pre-contractual and credit documentation with the relevant 3rd party lender.

Complaints Procedure

If you are dissatisfied with our service, we take your concerns seriously. If we cannot resolve your complaint to your satisfaction, you may have the right to refer it to the Financial Ombudsman Service (FOS):

  1. Data Protection (GDPR) & Cyber Security
  • Data Handling: Your personal data is stored and processed in compliance with the UK General Data Protection Regulation (UK GDPR) and Data Protection Act 2018. You have the right to request access to the personal data Vector Finance holds about you.
  • Privacy Policy: Read our full Privacy Policy at www.vectorleasing.co.uk.

Financial Crime & Identification Checks

All transactions are governed by the Money Laundering Regulations and the Proceeds of Crime Act.

To prevent fraud and financial crime, we are required to verify the identity and address of all clients and third-party payees. You agree to provide proof of identity upon request. Vector Finance reserves the right to conduct electronic identification and anti-money laundering (AML) checks on all business directors and beneficial owners holding 25% or more of voting share capital.

  1. Credit Searches

Electronic searches against credit reference agencies and the electoral roll will leave a footprint on your credit file. This footprint is visible to other lenders and may impact your credit rating. We will only initiate these searches after receiving your consent to proceed with a credit application.

Governing Law

This agreement and any non-contractual obligations arising out of it are governed by the laws of England and Wales, subject to the exclusive jurisdiction of the English courts.

Our Customer Commitment

  • Transparency: Clear product explanations with no hidden costs.
  • Integrity: We provide honest advice—even if it means we lose your business.
  • Confidentiality: Your data is treated with strict security and confidentiality.
  • Service: Clear documentation, professional staff, and fair handling of every application.