Versus Finance Limited has introduced a hybrid fee structure, in line with evolving industry changes and best practices.
Since its inception, Versus Finance has offered all its brokerage services without charging clients direct fees, enabling impartial service with no upfront cost. However, in 2021, the UK Financial Conduct Authority (FCA) banned discretionary commission models such as Difference in Charges (DiC), which previously linked broker earnings to client interest rates and raised concerns about potential conflicts of interest, particularly in motor finance and related sectors.
To adapt to these regulatory changes and align with new business practices among UK brokers, Versus Finance has introduced a hybrid fee model combining commission-based and fee-based elements. This approach allows the company to fairly compensate its expertise and time while continuing to offer transparent, client-focused finance solutions.
Under the updated fee structure:
- Fees apply only to specific products, not across all services.
- Clients are always informed of any fees before proceeding.
- Fees are only payable upon successful completion of the transaction.
The revised fee terms have been incorporated into the company’s Terms and Conditions of Business since 1 August 2024. Clients are encouraged to review these terms to stay fully informed when engaging our services.