Consumer Credit Solutions (CCS), the leading credit finance provider to the home improvement market, approved business in excess of £20m in May. It’s the 6th month in a row the company hit £20m – a record for CCS. Following a strong start to the year with more than £100m in sales up to May, the company is on target to achieve a quarter of a billion pounds this calendar year. And, perhaps surprisingly, significant growth comes from the solar market, which accounts for 20% of sales, despite the adverse effect of the feed-in tariff reduction.
Andy Wallace, Managing Partner of CCS, comments: “CCS customers in the solar market tell us offering soft sell, interest free or low interest credit finance has had a significant effect on their sales. There is a lot of interest in solar energy products but, like most home improvement markets, they’ve suffered from the economic downturn and the unwillingness of banks and building societies to lend. They’ve also had the added problem of the halving of the feed-in tariff. So offering no-hassle finance through CCS has been a lifeline for companies selling solar-pv products. In fact many of our customers are reporting record levels of credit volume, which is helping to maintain their sales.”
Andy continues: “CCS provides finance solutions to many of the UK’s top 100 home improvement companies. We ensure our customers’ salespeople are thoroughly trained in CCS products and procedures, so they can confidently offer finance at point of sale. Many installers have been reassured by the training and support they receive and the credit finance, particularly ‘soft sell’ low interest rate finance packages such as “Buy Now, Pay Later”, interest free credit, “Bank Buster” and “Mortgage Buster” loans, which are a cornerstone of their sales pitch. We support our clients at every stage. Offering finance helps installers make the sale and our training and support means they can do so with confidence. Many of our customers are maintaining and increasing sales in a challenging market which is why our own sales are growing.