The Government has recently withdrawn its support for Green Deal, and it’s left many businesses, like yours, wondering how they can help customers spread the cost of making their homes more energy efficient…
Consumer Credit Solutions is the UK’s leading independent provider of home improvement finance – and we can offer competitive finance products that will be attractive to both you and your customers!
Why choose CCS?
As the UK’s only truly independent provider of home improvement finance, we’ll ensure you have access to the best choice of lenders and the most competitive rates available. We’ll structure a consumer finance strategy that will drive customers to your door and increase conversion rates, order values and, ultimately, your profits. Businesses that work with CCS typically go on to increase their turnover by 20-30% and some have increased it by significantly more.
You’ll also have the advantage of our comprehensive business development service that includes:
- A customised, ongoing finance training programme for your team
- Assistance with FCA compliance and authorisation
- Help with marketing promotions and compliance
- A professional suite of point-of sales-materials and tools
- Regular on-site management review meetings with your own dedicated CCS Business Development Manager.
Which home improvement products will Lenders finance?
Our lenders will finance most traditional heating systems (gas, electric & oil-fuelled), external wall insulation (EWI), underfloor heating, cavity wall insulation, loft insulation, replacement windows, and blinds (note: minimum order values apply).
Unfortunately, our lenders do not finance any renewables solutions including solar PV.
Does my business need to meet any criteria to be approved by your Lenders?
Yes. Our lenders stipulate that you must have been trading for 2 years or more. You will also need to demonstrate that you can write a minimum £250,000 on finance each year (typically, this means a business needs to have a turnover in excess of £1 million).
Our lenders will only approve finance for homeowners who have a regular income. Sorry, but we cannot offer finance to landlords.
What do I need to do in order to offer consumer finance?
To offer consumer credit you must be authorised by the Financial Conduct Authority. Some Green Deal businesses may already be authorised to offer consumer finance – but it’s important to check your status.
IMPORTANT NOTE! If you sell in customers’ homes then you MUST have FULL permission.
At the moment, your authorisation is likely to fall into one of the following 3 categories:
- Your company has Interim Permission (IP) – providing you used to have category ‘C’ on your Consumer Credit Licence then you will have Credit Brokerage as a category on your IP. This means we can immediately discuss the process of getting your business set-up with a credit facility with one of our panel of lenders.
NOTE: When your IP is due to expire and your ‘landing slot’ opens, then you will have to apply for a full permission (assuming you are a domestic residence supplier selling in customers’ homes) in order to continue to offer consumer finance.
- Your company is authorised as a Green Deal Broker – you will have to apply to ‘upgrade’ to a full permission (assuming you are a domestic residence supplier selling in customers’ homes). This is because your authorisation restricts your credit broking activity to Green Deal Plans only.
To do this you can log onto the Connect System via the FCA’s website and apply for a Variation of Permission. The FCA make it clear that a firm should not undertake the new activity until the variation of permission has been approved and this could take up to 6 months. NOTE: We have spoken to the FCA and current turnaround time is approximately 3 months.
- Your company is authorised as a Green Deal Provider – this means your business should already have a full permission (as it’s classified as a ‘lender’) BUT you may not be authorised as a domestic residence supplier. You will need to check with the FCA whether you are authorised to offer consumer finance in your customers’ homes.
The Next Step:
Call the CCS Head Office on 0845 120 6666 to arrange a meeting with one of our Business Development Managers.