In light of the recent Court of Appeal decision, lenders and brokers now have additional obligations around disclosure of the existence, nature and amount of commission,  and to obtain the consumer’s informed consent to the payment of commission. These obligations lie with lenders, brokers and retailers, and from the discussions we have held with many of the lenders that we work with, we know that many lenders are already changing their processes to ensure they can comply with these new obligations.

To support our partners through Auto Convert, we have just launched a new document signing feature integrated into Auto Convert giving you the ability to send customers proposal documents, clearly calling out any commission information, for the customer to sign and accept the commission.

We understand that this is a challenging situation for all our partners and rest assured we are working hard to support the industry. We are holding regular webinars on the topic which you can sign up for here, and find the latest updates on our blog.