Q. How do I pay with Interest Free Credit?
A. When you go to your basket you can choose to proceed by paying the full amount using a credit or debit card or by selecting the option ‘Pay with Interest Free Credit'. If you’re in a store simply let the sales team member know and they will take you through the simple process. You can also call the orderline on 0345 675 9090 and again just let our Customer Service agent know this is your preferred method of payment.
Q. How do I know if I am eligible to apply for Interest Free Credit?
A. You’re eligible if you can meet the following criteria:
- At least 18 years old
- Have three years address history in the UK
- Have a UK registered bank account and an email address
- Work at least 16 hours a week or are retired with an income
However, please remember eligibility is no guarantee that you will get the loan.
Q. Does this mean that as a home maker I can’t apply?
A. No. As long as you fit the rest of the criteria you can apply using your household income.
Q. Are there any other restrictions?
A. Your order must be delivered. Paying with IFC means you cannot choose click & collect as your delivery method. You can during the process request delivery to an address other than your billing address. Requesting this online will mean your application will be ‘referred’ whilst the alternate address is verified. We will contact you once the address has been approved.
Q. How do I know if I can afford IFC?
A. On the website below any item that is valued at £500 or more there is a box labelled “0% Interest Free Credit”. Using this tool you can set the criteria of amount, deposit you want to pay (if any) and the repayment period. This will show you what your monthly repayment would be based on that individual item.
If an item is below £500, by adding another item to your basket you will be able to access this tool on the basket page and again adjust the criteria to see your monthly repayment amount.
Q. Are there any arrangement fees or hidden extras for credit?
A. No, absolutely not. We have no arrangement fees or hidden extras.
Q. So how much can I borrow?
A. There is a minimum loan value of £500 and a maximum amount of £15,000. The loan amount can include delivery charge. If you choose to pay a deposit (its optional) the balance to apply for a loan would still need to be £500.
Please note: Unfortunately at the moment we are unable to offer online finance to residents in Northern Ireland.
Q. Do I have to pay a deposit?
A. Paying a deposit is optional. You can choose to pay any amount up to 50% of the loan as long as the balance of the loan you’re applying for, minus any deposit, is still over £500. Or you can pay nothing.
Q. When would my repayments start?
A. Your monthly repayments will begin approximately one month after your order has been delivered. The loan provider, V12 Retail Finance, will send you a welcome communication shortly after delivery that confirms your first payment date. If you want to change the payment date, you will need to contact V12 Retail Finance. Their contact details will be in the welcome communication.
Q. What happens if I cancel or return my order?
If you cancel your order prior to it being delivered then we alert the finance company and they will cancel the agreement and your direct debit. If your order has been delivered then again we will deal with that and alert the finance company and process a refund for anything you may have paid – excluding the delivery charge.
Q. What repayment periods are available?
A. The amount of the loan will set the period or periods that are available for you to choose from. This table shows the levels and periods available
| min spend |
terms available |
| £500+ |
6 months |
| £750+ |
6 and 12 months |
| £1,250+ |
6, 12 and 24 months |
| £2,000+ |
6, 12, 24 and 36 months |
Q. How complicated is it to apply?
A. The process itself is very simple, secure and is completed online. The application is made through an online form. There are some legal requirements that you are required to complete such as making an electronic signature. At the end of the process you are told straight away if you have been accepted, declined or referred.
Q. What does being referred mean?
A. This is when further information is required by the loan provider and they will contact you directly. This is usually completed within 24 hours for online applications.
Q. Why have I been declined?
A. We act as the broker between you and the Finance company but we are not told the reason for a decline. If you have been declined, you may wish to obtain a copy of your credit report as this should provide some insight to the reasons why your application was declined on this occasion. Independent advice on how to view and understand your credit report can be found at www.moneyadviceservice.org.uk
If you would like to appeal the decline decision, please email underwriting@v12finance.com with the 7 digit application reference number and your full name. V12 Retail Finance will review the application and will respond within three working days.
If your loan is declined you will be directed back to the checkout page where you can pay with a credit card.
Q. If my application is not successful, can I re-apply?
A. If your circumstances change and just because you were refused a previous application, it does not mean that you’ll automatically be turned down on a further request. However, we do suggest that you leave at least 6 months between applications.
Q. What is credit scoring?
A. Credit scoring is the process used by financial services companies to evaluate the credit risk of new applicants. This technique is applied to your application for online finance. Credit scoring works by awarding points for each answer given on the application form such as address history, income and occupation, together with information obtained from credit reference agencies. This information allows the loan provider, Secure Bank Trust PLC, to produce consistent decisions, ensuring all applications are treated fairly. Credit scoring does not discriminate on the grounds of age, sex, race, religion or disability.
Q. What type of information do credit reference agencies hold about me?
A. Some of the information is public information, for example electoral roll, County Court Judgements and bankruptcies. Other lenders may also file information about accounts you hold with them, for instance this could include your payment history and outstanding balance on these accounts. Any requests for credit, where a credit reference search has been undertaken, will also be filed, although the result of the request is not recorded.
Q. Can I obtain a copy of this information?
A. Yes. Independent advice on how to view and understand your credit report can be found at www.moneyadviceservice.org.uk
Q. So, this isn’t a loan from dwell?
A. No, we simply act as the broker. The loan provider is:
Secure Bank Trust PLC (trading as V12 Retail Finance), 1 Arleston Way, Shirley, Solihull B90 4LH
Credit is subject to status and affordability. Terms and conditions apply. Coin Furniture Ltd. (trading as dwell) is authorised & regulated by the Financial Conduct Authority in relation to credit broking. Credit is provided by Secure Bank Trust PLC (trading as V12 Retail Finance), 1 Arleston Way, Shirley, Solihull B90 4LH who are authorised and regulated by the Financial Conduct Authority as a credit provider.
