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Finance partners

V12 Finance

We have partnered with V12 Retail Finance to bring you a range of payment options if you prefer to spread the cost of your purchase.

We offer our customers the ability to apply for finance facilities to fund a purchase from us. If you are accepted by V12 Retail Finance, you will be asked to eSign the credit agreement and once in receipt of your purchase, V12 Retail Finance will make your agreement live and your monthly repayments will commence for the agreed term. In short, retail finance gives you the flexibility to spread the cost of your purchase over a repayment period that suits your budget.

Please note, you can only arrange the delivery of your order pending the approval of your finance application. Please make sure you are happy with the products you are ordering before submitting your finance application; we are unable to change your order once your finance application has been approved. The approval of your application depends on your financial circumstances and borrowing history.


Eligibility criteria

To apply for finance you must:

  • be at least 18 years of age
  • have been a UK resident for three years or more
  • be in regular employment (minimum of 16 hours per week) including self-employment, or in permanent residence with your spouse/partner who's in regular employment. If you are retired and receive a pension, or registered disabled and unable to work, we may ask for proof of sufficient income.
  • have a mobile phone number
  • have an email address
  • have a UK bank account from which Direct Debits can be taken
  • have no outstanding County Court Judgements (CCJs)

Product Information

Below are some examples to illustrate our range of finance options provided by V12 Retail Finance. Minimum spend amounts start from £555.56. Credit is subject to status, financial circumstances and borrowing history. You must agree to the lender's Terms and Conditions and electronically sign the Credit Agreement document before we can release the goods to you.

Interest Free Finance

Our Interest Free finance scheme is what it says, Interest Free - no catch, no ties and no arrangement fees. You repay the loan amount through equal monthly payments spread over 6 months.

The minimum spend amount for this scheme is £555.56.

Representative Example - 6 Months
Cash Price (incl. VAT) £555.56
Deposit £55.56
Total amount of credit £500
Agreement duration 6 months
Annual rate of interest   0% Fixed
Representative APR   0% APR
Interest/Total Charge for Credit   £0
Total Amount Repayable £555.56
By 6 Monthly Repayments of £83.33

The minimum spend amount for this scheme is £1,111.11.

12 Month Illustration
Cash Price (incl. VAT) £1,111.11
Deposit £111.11
Total amount of credit £1,000
Agreement duration 12 months
Annual rate of interest   0% Fixed
Representative APR   0% APR
Interest/Total Charge for Credit   £0
Total Amount Repayable £1,111.11
By 12 Monthly Repayments of £83.33

Credit is subject to status, financial circumstances and borrowing history. You must agree to the lender's Terms and Conditions and electronically sign the Credit Agreement document before we can release the goods to you.

Classic Credit 19.9% APR

Our Classic Credit scheme is simply an interest bearing loan with interest charged at the given APR, there are no additional arrangement fees. You repay the loan amount and total interest spread equally over 48 months.

The minimum spend amount for this scheme is £777.78.

Representative Example - 48 Months
Cash Price (incl. VAT) £777.78
Deposit £77.78
Total amount of credit £700
Agreement duration 48 months
Annual rate of interest   19.9% Fixed
Representative APR   19.9% APR
Interest/Total Charge for Credit   £292.16
Total Amount Repayable £1,069.94
By 48 Monthly Repayments of £20.67

The minimum spend amount for this scheme is £666.67.

36 Month Illustration
Cash Price (incl. VAT) £666.67
Deposit £66.67
Total amount of credit £600
Agreement duration 36 months
Annual rate of interest   19.9% Fixed
Representative APR   19.9% APR
Interest/Total Charge for Credit   £184.08
Total Amount Repayable £850.75
By 36 Monthly Repayments of £21.78

The minimum spend amount for this scheme is £555.56.

24 Month Illustration
Cash Price (incl. VAT) £555.56
Deposit £55.56
Total amount of credit £500
Agreement duration 24 months
Annual rate of interest   19.9% Fixed
Representative APR   19.9% APR
Interest/Total Charge for Credit   £100.72
Total Amount Repayable £656.28
By 24 Monthly Repayments of £25.03

Credit is subject to status, financial circumstances and borrowing history. You must agree to the lender's Terms and Conditions and electronically sign the Credit Agreement document before we can release the goods to you.

Buy Now Pay 6 Months Later

The Buy Now Pay Later finance option allows you to spread the cost of your purchase over a total term of 48 months which includes a 6 month non-payment period. If you choose to settle the amount of credit in full before the end of the non-payment period you will not pay any interest but will pay an early settlement fee of £29. If you choose not to settle in full by the end of the non-payment period, the amount of credit remaining will be spread across the remaining term of 42 months with interest charged at a representative APR of 19.9%. You will pay interest on the amount of credit that remains unpaid and interest will be charged from the date we told you the agreement was live.

The minimum spend amount for this scheme is £555.56.

Representative Example - 42 Months
Cash Price (incl. VAT) £555.56
Deposit £55.56
Total amount of credit £500
Agreement duration 48 months
Deferment Period 6 months
Annual rate of interest   19.9% Fixed
Representative APR   19.9% APR
Interest/Total Charge for Credit   £234.16
Total Amount Repayable £789.72
By 42 Monthly Repayments of £17.48

Credit is subject to status, financial circumstances and borrowing history. You must agree to the lender's Terms and Conditions and electronically sign the Credit Agreement document before we can release the goods to you.

Delivery

For finance orders made online or via mail order we are only able to deliver the goods to the address on your credit agreement (your home address). You will not be able to have the goods shipped to another address or collect the goods from us in person. You can only arrange the delivery of your order pending the approval of your finance application.


The lender

Marks Electrical Limited T/A Marks Electrical acts as a credit broker and offers credit products from Secure Trust Bank PLC trading as V12 Retail Finance. Marks Electrical Limited is authorised and regulated by the Financial Conduct Authority and is the broker and not the lender. Our registration number is 705899. Credit is provided subject to age & status. Minimum spend applies. Not all products offered by Secure Trust Bank PLC are regulated by the Financial Conduct Authority. We may receive a commission if your application is successful, and the amount may vary depending on the product chosen and the amount of credit taken out. Secure Trust Bank is registered in England and Wales 541132. Registered office: Yorke House, Arleston Way, Solihull, B90 4LH. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registration number: 204550.

Marks Electrical is registered in England and Wales 04463433. Registered office: 4 Boston Rd, Leicester, LE4 1AU.

Declined credit applications

You will be informed if your application has been declined. The lender is unable to share the reason for decline with us. Some reasons your application might be refused include:

  • you do not meet the eligibility criteria (see above);
  • adverse credit reference agency information;
  • your credit score;
  • you are considered to be overcommitted; or
  • your existing account performance with other lenders.

The lender will give you the contact details for the credit reference agency used. They will also give you information on how to appeal the decision if you wish to discuss the matter. Please note that the lender is unable to discuss this over the telephone due to Data Protection rules. 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.

Talk to us!