Finance Commission Disclosure

We are what is termed a credit broker and not a lender.

The Finance Service

We can introduce you to a selected panel of Lenders, which includes MotoNovo Finance. Please note that an introduction to a lender does not amount to independent financial advice. 

Our approach is to introduce you first to MotoNovo Finance (termed a captive lender). If they are unable to make you an offer of finance, we then seek to introduce you to Octane Finance.  Octane Finance are a credit broker and not a lender and they will approach their own panel of lenders to make an offer of finance to you.

We are not an independent financial advisor. We will provide details of products available from the lender or credit broker that we work with, but no advice or recommendation will be made. You must decide whether the financial product is right for you. 

Finance is arranged subject to status and terms and conditions and we cannot guarantee that we will be able to secure finance for you.

Do you have to pay for our service

You dont have to pay us for our service.

Do we recieve any commission

The lender or credit broker we work with may pay us commision for introducing you them.  Different funders/brokers may pay us different amounts but it will typically be based on a fixed percentage of the amount borrowed.  This percentage may vary according to diferent factors, for example, the amount of creidt, the age or type of vehicle, the type of finance products and/or the funder's assessment of the risk of lending. For your reassurance we are not able to influence or change the rate you pay, the is determinded by the lender. 

Rates and commissions with either MotoNovo (lender) or Octane Finance (broker) are determined by pre-agreed tiered rates and they will always offer the most beneficial APR available from them, taking into account your individual circumstances, in order to treat customers fairly. 1BR has no influence over these.

If we are successful in obtaining an offer of finance for you and you would like to know the amount (or likely amount) we would receive if you decided to go ahead with the agreement and how that amount has been calculated, please contact us: [email protected] or 01730 269999

How will we use your information?

We will use your information to obtain quotes from our Funder/Broker to process finance applications through them and they may also conduct a search of your record held with one or more credit reference agencies. Credit checks may as a result appear on your credit file lodged by organisations with whom you have not dealt with directly. The personal information collected will also be shared with fraud prevention agenise 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.

What can you do if you wish to complain about or services or contact us?

If you wish to make a complaint please contact us:

by writing to us at 1BR Limited, 1 Bedford Road, Petersfield, Hampshire, GU32 3LJ
by emailing [email protected]
by telephoning 01730 269999

If after making a complaint to us you are still unhappy and feel that matter has not been resolved to your satisfaction, please contact the Financial Ombudsman Service (FOS - www.financial-ombudsman.org.uk). Please note that FOS may not be able to deal with complaints from business customers.

Please note, should your complaint be regarding a car finance agreement before 28th January 2021, we need to make you aware that the current 8 week deadline to respond to your complaint is currently paused. This is due to the review the FCA are carrying out within the Motor Finance Industry regarding the handling of such complaints. Please note we will still work hard to resolve your complaint in the background and keep you updated throughout the process; however we need to make you aware that we will not have to respond to your complaint until after 25th September 2024 at the earliest.

We also need to make you aware that if you are unhappy with your response, the FCA have extended the deadline in which you can refer your complaint to the Financial Ombudsman Service from 6 months to 15 months if you are sent a final response between 12th July 2023 and 20th November 2024. You can find further information on the work the FCA is carrying out via this link- https://www.fca.org.uk/carfinance.