03rd July 2015
Car finance expert, Motor Finance 4u, has received authorisation from the UK's Financial Conduct Authority (FCA) to provide consumer credit broking and intermediation services in relation to car sales and hire, making it among the first within the car industry to secure accreditation.
In April 2014 the FCA took over regulation of consumer credit from the Office of Fair Trading, requiring all firms involved in consumer credit brokering or intermediary services to become authorised. The FCA's predecessor, the Financial Services Authority, previously regulated Motorfinance4u since 2005 for the sale of general insurance.
As a result of this approval from the FCA, Motor Finance 4u is now fully authorised to act as a credit intermediary for consumers looking to secure car finance.
Discussing the approval Nick Brushett, Managing Director of Motor Finance 4u, commented: "Since our launch in 1999 we have always been dedicated to providing our customers an experience and service that they can trust. As one of the first in our industry to secure FCA approval, this is a landmark step in ensuring that we not only continue to deliver the same level of quality and service to our customers, but also lead our industry with standards in best practice. At Motorfinance4u we ensure that all our activity is focused on providing the most suitable and positive outcomes for every customer. This culture is achieved by treating customers fairly throughout the car buying process."