Spread The Cost With 0% APR Finance
Furniture Outlet offer a range of spread the cost finance options for payment provided by V12 Retail Finance, including 0% APR Interest Free Finance (6 months) and 9.9% APR Representative Classic Credit (12 to 48 months). Alternatively, we also offer PayPal’s Pay in 3, allowing you to spread the cost of your purchase via monthly, interest free instalments.
Please remember to always shop responsibly. When using any form of credit, carefully consider whether you can afford the repayments and the possible impact to your credit score.
We have no influence over the credit decisions made by V12 Retail Finance or PayPal. They are not permitted to share application information with us. If you are declined for finance by either company, Furniture Outlet will be unable to find out why your application was unsuccessful.
Who is the V12 finance with?
V12 Retail Finance (V12) offer our customers the ability to apply for finance to fund their purchases.
Finance is provided by Secure Trust Bank PLC trading as V12 Retail Finance.
Finance is subject to age & status. Terms and conditions and minimum spend applies.
What is the eligibility criteria for finance?
To be eligible to apply for finance you must:
- Be at least 18 years of age
- Have been a UK resident for at least 3 years
- Have a debit or credit card in your name, registered to your address in order to cover deposit (if applicable)
- Have a Bank or Building Society current account available (you’ll need this in order to complete direct debit instruction)
- Be in regular employment* including self-employment, or in a permanent residence with your spouse/partner who is in regular employment, or be receiving a pension or a disability benefit
* V12 Retail Finance may ask for proof of sufficient income. Finance is not available for unemployed individuals.
During the application process, you will be asked for your personal information such as name, 3-year address history, date of birth, email address, telephone contact details and employment/income information.
What is the minimum spend for finance?
You can apply for finance and purchases from £335 to £15,000.
What type of credit check will V12 perform?
V12 will perform a full credit check that will be visible on your credit file.
How long does it take to process a finance application?
With most applications, we expect that you will be given an acceptance or decline decision within 10-20 seconds. In some cases, V12 may return the decision as ‘referred’. You will then be contacted for further information and will receive an email confirming the Underwriter’s decision. For in-store applications, you can usually wait in the shop whilst your application is reviewed.
Underwriting hours are 8am to 8pm, Monday to Friday, 9am to 6pm on Saturday and 10am to 5pm on Sunday & Bank Holidays. If your application is referred outside of these hours, then you may have to wait until the next working day for the decision.
What is the £99 holding fee for failed deliveries?
For V12 financed orders featuring certain larger items, such as sofas and beds, Furniture Outlet will request a pre-delivery £99 holding fee via PayPal or bank transfer. This fee will only be charged if our delivery team do not have the necessary access to complete the delivery to your property and room of choice. Otherwise, the £99 holding fee will be fully refunded once the delivery has been successfully completed.
Our product listings include the dimensions of the items and their packaging for your reference, so please measure the appropriate door frames, hallways and so on to ensure there is sufficient access for a successful delivery to your room of choice prior to placing an order.
What happens if I‘m about to move to another address?
Where possible, the address you submit to V12 for finance should exactly match the delivery address of your order. If it doesn’t match due to an upcoming move, for example, your order will be subject to a change of address request which takes 3-5 working days for V12 Retail Finance to process. V12’s change of address submissions are subject to additional checks, so it is essential that all the information you provide is correct or the application may be declined.
What should I do if my application is declined?
Applications for finance are assessed based on the information given by the customer and the information obtained from credit reference agencies. If your application is declined, V12 will give you the contact details for the credit reference agency used as you may wish to obtain a copy of your credit report. V12 are unable to share the reason for the decline with you or us.
If you would like to appeal the decision, you can do so by contacting their Underwriting Team on 02920 468 916 or underwriting@v12finance.com.
You should also note that each lender applies its own credit score to applicants so if you have recently been accepted for credit elsewhere this does not necessarily mean that appealing the decision on this basis alone will result in a change of decision.
What should I do If I want to return my goods and cancel my finance?
If you wish to return some or all of your goods, please refer to our returns policy at https://furnitureoutletstores.co.uk/returns-policy/. If your return meets our returns policy, we will contact V12 to update or cancel the credit agreement.
We offer our customers a 14 day return policy for all online purchases made on the Furniture Outlet website. For more details, please see our returns policy. Additionally, in accordance with the Consumer Rights Act 2015, if your goods are faulty, you will be entitled to a refund for up to 30 days from the date of delivery.
For more information about the Financial Ombudsman Service regarding goods and services bought with credit, please visit https://www.financial-ombudsman.org.uk/consumers/complaints-can-help/credit-borrowing-money/goods-services-bought-credit.
How long does the finance application take?
The V12 application process is simple process. If you’ve used V12 before, they’ll recognise you and fast track you through the application form. Some applications may take longer to process. If you don’t get an instant decision, you will be notified on screen as part of the application process and also by e-mail, with a follow up e-mail as soon as a decision is confirmed.
How do I make payments when my agreement is live?
During the application process, you will input our bank details so that a Direct Debit can be set up to take you monthly payments. You will receive confirmation of your monthly payment date and that the Direct Debit has been set up when your agreement is live. You can change your payment date by logging onto your V12 Self-Service Portal account.
When will my first payment be?
Your first payment will typically be one month after the date your agreement has gone live. You will receive confirmation of your monthly payment when your agreement is live.
Can I pay off my agreement early?
Yes. You can make additional payments or pay off your agreements at any time. You can do this on your online account on the V12 Self-Service Portal.
What can I do if I want to keep the goods but I change my mind on using finance to pay?
You have the right under section 66A of the Consumer Credit Act 1974 to withdraw from the agreement without giving any reason before the end of 14 days (beginning with the day after the day on which the agreement is made or, if later, the date on which we will tell you that we have signed the agreement). If you wish to withdraw you must give V12 notice in writing or by telephone or email. Please note that if you do give notice of withdrawal, you must repay the full amount of the credit without delay and in any event by no later than 30 days after giving notice of withdrawal.
Essex Furniture Outlets Ltd. acts as a credit broker not a lender, and will introduce you to V12 Retail Finance Limited to complete your application for finance. We are authorised and regulated by the Financial Conduct Authority, Registration number 975165. Subject to status and affordability. Terms and conditions apply.
Essex Furniture Outlets Ltd, 08980266, Suite 3, 1st Floor, Phoenix House, Christopher Martin Road, Basildon, Essex SS14 3EZ.
Not all products provided by V12 Retail Finance are regulated by the Financial Conduct Authority.
Secure Trust Bank PLC. Registered in England and Wales 541132. Authorised by the Prudential Regulation Authority.
With no set up fees or charges, Pay in 3 by PayPal allows you to split your purchase into three interest-free payments.
How To Use PayPal Pay in 3:
1. Go to checkout and select PayPal.
2. Choose “Pay in 3” and complete your purchase.
3. Make the first payment now, the rest in two payments every month on the same date.
Pay in 3 eligibility is subject to status and approval by PayPal. You will get an instant decision during the application process. UK residents only.
To apply for PayPal Pay in 3, you will need to provide your title, phone number, address, date of birth and debit card information.
There are no fees for choosing to pay with PayPal Pay in 3.
Pay in 3 is a form of credit, may not be suitable for everyone and use may affect your credit score.
PayPal is a responsible lender. Terms & Conditions apply.
For more information about Pay in 3, please visit the FAQs https://www.paypal.com/uk/
PayPal Pay in 3 is a trading name of PayPal (Europe) S.à r.l. et Cie, S.C.A. 22-24 Boulevard Royal L-2449, Luxembourg.
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