Interest Free Credit over 12 months is not regulated by the Financial Conduct Authority. This means that there are far fewer rules around advertising than there are for regulated finance.
It also means that you yourself can offer this finance (with TradeHelp just assisting you as a broker), as you do not need to be authorised by the Financial Conduct authority to offer interest free finance repayable over 12 months (or less).
However, it is still extremely important to ensure that any advertising is clear, accurate and not misleading.
The key points to include in any advertising are that the finance is interest free and that any loan amount would be payable by the customer in 12 equal monthly instalments.
It is beneficial to make the customer aware of how the finance is accessed for them, so you may also wish to include information such as:
Once you have accepted our Quotation, you can choose to either pay in full or to make an application to pay for the work through a 12 Month Interest Free Credit Agreement. In providing you with the option to pay for your quote through a 12 Month Interest Free Credit Agreement, we will refer you to TradeHelp Ltd of Marchwiel Centre, Bryn Lane, Wrexham Ind Est, LL13 9UT, who will act as a loan broker (not a lender).
TradeHelp is authorised and regulated by the Financial Conduct Authority (697812) but please be aware that any 12 Month Interest Free Credit Agreement entered into between us is an unregulated product provided by us; TradeHelp assists with the brokering of this agreement without acceptance of any liability towards you. Any Credit Agreement will be between you and the lender and they will provide you in advance with full details of the related terms and conditions.
Please do not hesitate to come back to us on 01978 666887 or [email protected] if you would like us to review any proposed advertising or if you have any questions.
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