FAQs

HOW DO I ASK A QUESTION ABOUT THE CREDIT AGREEMENT?
Chat to V12 Retail Finance on 01615323491

HOW LONG DOES IT TAKE TO APPLY ONLINE?
Our online application form typically takes less than 3 minutes to complete. Your application is then instantly sent to the finance company and they will typically respond with their decision in around 10 seconds. Some applications may take longer to process. If for any reason we can’t give you 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.

WHAT ARE THE REQUIREMENTS FOR FINANCE?
* Must be 18 or older.
* You, or your partner is in permanent paid employment (over 16 hours per week), retired (receiving a pension), in receipt of a disability benefit or self-employed.
* Has been resident in the UK for at least 3 years and will continue their residency in the UK.
* Has a debit or credit card in their name and registered to their address (you’ll need this to match the address used to complete the identity verification).
* You must have a UK bank account capable of accepting Direct Debits.
* Has a Bank or Building Society current account (you’ll need this to complete the direct debit instruction).

CAN I CANCEL MY CREDIT AGREEMENT IF I CHANGE MY MIND?
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 the finance company notice in writing or by telephone or email. The name of your finance company will be clearly shown on your credit agreement (see contact details below). 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. If you want to settle the loan after the 14 day cooling off period, you may do so but you will also have to pay interest accrued from the date the agreement was made until the date you repay it. If you wish to pay by debit card please telephone the finance company. If you wish to pay by cheque please send it by first class post to the finance company. Please allow 10 working days from the day you post the cheque to allow time to process the payment.

V12 Retail Finance Limited
20 Neptune Court
Vanguard Way
Cardiff
CF24 5PJ

Tel: 02920 468912
Email: operations@v12finance.com

WILL THE FINANCE COMPANY PERFORM A CREDIT CHECK?
Yes. A credit check forms part of the automated decision making process and is part of a responsible lending policy.

DO I NEED A BANK ACCOUNT?
Yes. You must have a UK bank account capable of accepting Direct Debits.

DO I NEED TO PAY DEPOSIT?
No, however if you wish to you can pay up to a maximum deposit of 50%.

HOW DO I REPAY THE LOAN?
Your monthly repayments are collected by Direct Debit.

CAN I PAY MY AGREEMENT OFF EARLY?
You have the right to repay all or part of the credit early at any time – you should contact V12 Finance for details by phone, e-mail or letter at the following:

V12 Retail Finance Limited
20 Neptune Court
Vanguard Way
Cardiff
CF24 5PJ

Tel: 02920 468912
Email: operations@v12finance.com

HOW MUCH DOES THE LOAN COST?
The total cost of the loan is shown clearly on the finance agreement.

ARE THERE ANY OTHER CHARGES?
If you fail to pay any amount you owe under the Credit Agreement by the date it is due, the finance company may charge you interest on that amount, they may also levy additional fees – details of these can be found in your copy of the credit agreement which is available to you as part of the application process and also supplied to you as part of the welcome pack you will receive following acceptance of finance.

HOW LONG BEFORE I HAVE TO START TO REPAY THE LOAN?
The first payment is typically due 30 days following the date of delivery of your order.

WHAT APR WILL I BE CHARGED?
The APR is shown clearly on the credit summary (in the top right hand corner of the screen) throughout the credit application process. It is also shown clearly on the credit agreement itself. The APR for Interest free credit is 0%.

WILL I QUALIFY FOR FINANCE?
To apply for one of our credit options you must meet the following criteria:

* Over 18 years of age.
* A UK resident with at least 3 years continual address history.
* Be in full time employment, unless retired, or unemployed with a spouse in full time employment.
* Have a UK bank account capable of accepting Direct Debits.
* The goods must be delivered to your home address (submitted on your application).

Powerhouse Fitness is the trading name of Laidir Leisure Ltd (Private Limited Company Reg No. SC71827). Registered office: 57 Beardmore way, Clydebank, Scotland, G81 4HT. Powerhouse Fitness act as a credit broker and only offers credit products from Secure Trust Bank PLC trading as V12 Retail Finance. Powerhouse Fitness is authorised and regulated by the Financial Conduct Authority. Our reference number is 679653. Credit provided subject to age and status.