Consumer Credit Solutions (CCS), the leading credit broker to the home improvement market, achieved over £60 million of approved loans during the first quarter of 2012. The spectacular figure puts the business on track to achieve a quarter of a billion pounds of approved loans in 2012.
Previously CCS achieved its best ever trading quarter in Q4 2011, managing an approved lending figure of just over £51 million for homeowners. This coincided with its best ever October with £18.9 million of approved loans. In total the company managed over £200 million of approved loans during 2011.
Speaking about its record-breaking growth, CCS Managing Partner Andy Wallace said: “These are challenging times for retail installers. Convincing homeowners to invest in big ticket items such as windows, conservatories, kitchens, bedrooms, bathrooms, and PV solar panels is hard but when the homeowner doesn’t have the money available or doesn’t feel comfortable committing in the current climate of austerity installers need additional sales tools. Offering various attractive repayment options is a vital tool to help make the sale. Consumer Credit Solutions offers a range of soft-sell finance options such as interest free credit, ‘Buy Now Pay Later’ and our Bank Buster loan tracker product currently offers the lowest rate in the UK at 5.9% APR. Products such as these are very attractive to informed consumers.
“The increasing volume of loans we are approving is proof of the effectiveness of soft-sell finance. At a time when money is generally tight and markets are depressed, the fact that our business is growing shows how valuable soft-sell finance is proving to our retail installer customers. We are delighted that we are able to provide them with the best available credit options to help them grow their own businesses.”