Legal
Terms of Business.
Carrot Finance Ltd (Company No. 17085979), The Old House, Main Street, Maids Moreton, Buckingham, MK18 1QU (FRN: 1053834) is an Appointed Representative of Moorgate Finance Limited, which is authorised and regulated by the Financial Conduct Authority. Under this arrangement, Carrot Finance Ltd is authorised to carry out regulated credit broking activities in relation to asset finance.
Carrot Finance Ltd is also an Introducer Appointed Representative of Presto Finance Ltd, which is authorised and regulated by the Financial Conduct Authority. Under this arrangement, Carrot Finance Ltd is permitted to introduce customers to Presto Finance Ltd for the purposes of motor finance only.
For motor finance, Carrot Finance Ltd acts solely as an introducer to Presto Finance Ltd, which is responsible for all regulated credit broking activities, including assessing your requirements and introducing you to suitable lenders.
For asset finance, Carrot Finance Ltd acts as a credit broker (not a lender) and may introduce you to a panel of third-party lenders. We do not provide independent financial advice or personalised recommendations.
We will receive commission in connection with the services we provide. Commission amounts and structures vary depending on the lender and may include fixed fee, fixed rate of commission, percentage of the amount you borrow and rate for risk (this is based on the risk profile of the business). Further details of the commission model, calculation and amount will be disclosed to you throughout your customer journey.
We process personal data in accordance with our Privacy Policy and applicable data protection legislation, including the UK GDPR and the Data Protection Act 2018. To source and arrange finance, we may share your personal and financial information with multiple selected lenders, finance providers and related intermediaries. This may include identity details and financial information. Some lenders may also carry out credit searches where required. Further information on how and why we share your data, including any international transfers and retention periods, is set out in our Privacy Policy. We are registered with the Information Commissioner's Office (ICO registration ZC108701), verifiable at www.ico.org.uk.
If you are unhappy with our service, please contact us so we can attempt to resolve your concerns. We operate an internal complaints procedure and will handle your complaint in accordance with our regulatory obligations. FIBA Membership No FIB42094.
Registered in England and Wales.
Document reference: CF-ToB
Introduction
These Terms of Business set out how Carrot Finance Limited acts for you when you use our services. They are read alongside the Initial Disclosure Document provided to you at application, and the Fees and Commission Disclosure. The three documents together describe our service, our fees and commissions, the regulatory position under which we operate, and the protections available to you.
If you engage Carrot Finance to help source finance, you agree to these Terms of Business. If you disagree with any part, tell us, and we will discuss how to proceed.
Our service
Carrot Finance is a credit broker and not a lender. We introduce businesses and individuals to lenders across commercial and regulated finance products. We do not lend money, and we do not guarantee any particular outcome on your behalf.
Carrot Finance manages your application from first conversation to completion. On regulated products, our principal firm arrangements support the placement under their FCA permissions. On unregulated commercial products, we place directly. Whichever route applies, Carrot Finance is your point of contact throughout.
Your responsibilities
You agree to provide Carrot Finance with accurate, complete, and timely information about your circumstances, your requirements, and any matters that would affect a lender's decision. You agree to cooperate with reasonable information requests from Carrot Finance and from the lender.
Where Carrot Finance makes a recommendation, the recommendation is based on the information you provide. Incomplete or inaccurate information may result in a recommendation that is not suitable. You are not obliged to accept any recommendation and may take independent advice at your own cost.
Fees and commission
Our fees and commission structure is set out in full in the Fees and Commission Disclosure, which is provided to you at application. In summary, Carrot Finance may charge a borrower arrangement fee, typically one to two per cent of the facility amount, disclosed in writing in advance and payable only on completion. Carrot Finance also receives commission from the lender on most cases.
On consumer motor finance, FCA rules prohibit commission arrangements linked to the interest rate. On commercial finance products, commission is part of the overall deal structure and in some cases is reflected in the rate offered. You may request in writing at any time the specific commission Carrot Finance will receive on your case, and how, if at all, it interacts with your rate.
Our regulatory position
Carrot Finance operates through three regulatory routes: as an Appointed Representative of Moorgate Finance Limited, authorised to carry out regulated credit broking in relation to asset finance; as an Introducer Appointed Representative of Presto Finance Ltd for consumer motor finance, where Presto Finance Ltd is responsible for all regulated credit broking activity; and as an independent broker for property, development, bridging, commercial, and buy to let finance placed outside the regulated credit perimeter. Carrot Finance's regulatory position is disclosed on the cover of this document and in full in the Initial Disclosure Document.
Confidentiality
Carrot Finance treats information you provide as confidential, save where disclosure is required to lenders, to professional advisers, to our principal firms in connection with regulated activity, to regulators, or by law. We do not use your information for any purpose unconnected with the arrangement, administration, or renewal of your finance.
Data protection
Carrot Finance processes your personal data in accordance with our Privacy Policy, which is available on request. We share information only with parties involved in arranging, administering, or renewing your finance, and with credit reference agencies where applicable. You have rights under the UK GDPR including the right to access, correct, or restrict the processing of your data. To exercise any right, contact us at sales@carrotfinance.co.uk.
Complaints
If you are unhappy with any aspect of our service, contact us first. Write to sales@carrotfinance.co.uk, or by post to Carrot Finance Limited, The Old House, Main Street, Maids Moreton, Buckingham, England, MK18 1QU. We will acknowledge your complaint promptly and respond within the timescales set out in our Complaints Policy. If your complaint relates to a regulated product and we cannot resolve it to your satisfaction, you may be entitled to refer the matter to the Financial Ombudsman Service.
Limitation of liability
Carrot Finance acts with reasonable skill and care. Nothing in these Terms limits or excludes liability for death or personal injury caused by our negligence, for fraud or fraudulent misrepresentation, or for any liability that cannot be limited or excluded by law. Subject to those exceptions, our total liability to you in respect of all claims arising under these Terms is limited to the amount of arrangement fees and commissions received by Carrot Finance in connection with your case.
Carrot Finance is not responsible for the lender's decision, the lender's terms, or any act or omission of the lender after introduction.
Termination
Either you or Carrot Finance may end the engagement at any time by written notice. On termination, any arrangement fee agreed in writing and earned remains payable. No new activity will be undertaken on your behalf after termination.
Governing law
These Terms of Business are governed by the laws of England and Wales. The courts of England and Wales have exclusive jurisdiction over any dispute arising under or in connection with these Terms.