Finance Frequently Asked Questions
How do I choose to pay by Finance?
Just select the finance option on the checkout page or let the sales consultant know if you're buying in our showrooms.
Who is eligible to apply for online finance?
To apply for finance, you must be over the age of 18, work at least 16 hours a week, or be retired with an income. You must also be a resident of the United Kingdom and have lived in the UK for the last 12 months or more. Unfortunately, we are unable to offer online finance to residents of Eire. Homemakers aren't excluded from applying under their own names; however we will require the employment details of your spouse in order to process your application.
When do my repayments start?
Your monthly repayments will begin one month after your purchase has been delivered.
Are there any arrangement fees or hidden extras for credit?
No. There are no arrangement fees or hidden extras.
Applying for online finance
When you buy online from Lock Stock and Barrel Furniture you have the choice of applying for instant finance by adding your purchase to the shopping basket, selecting the option to PaybyFinance, and completing a finance application form.
The whole process only takes a few minutes and is simple and secure. Once your finance application is approved, you will receive an e-mail advising you of how to download the finance agreement. Please read this carefully checking that all the details are correct, then either e-sign the agreement, if offered, or print and sign the finance agreement twice. Post the document to the address shown on the finance agreement.
Following receipt of your finance agreement and a few additional checks, your goods will be dispatched.
Applying for online finance couldn't be easier or more convenient. Once you've chosen the products you'd like to purchase, simply complete a brief online application form accessed via the 'checkout'. Just follow the simple instructions, entering your personal details as required and we'll do the rest.
Your questions answered
Here's some of the most commonly asked questions regarding online finance.
Once my application is approved, what happens next?
Within minutes of your application being approved, you will be presented with the option to sign your credit agreement. If you are offered the ability to e-sign your credit agreement and choose to do so, a PDF of your credit agreement will be displayed on screen. You should read the credit agreement carefully before clicking all the relevant sections agreeing to its terms. Once you have agreed to the terms of the credit agreement Lock Stock and Barrel Furniture will be notified and you need do nothing more. If you are presented with the ability to print and return your credit agreement you should print the PDF agreement, read it carefully and then sign the document following the instructions on the covering letter. This signed document should then be posted to the address shown on the covering letter of the credit agreement.
Note that products will not be allocated to your order until your completed and signed agreement is returned and received by Hitachi Capital. Shipment of your goods will follow soon after your agreement has been returned to our finance company.
Will your credit score me and if so, what does this mean?
Credit scoring is the process used by financial services companies to evaluate the credit risk of new applicants. This technique will be applied to your application for online finance. Credit scoring works by awarding points for each answer given on the application form such as age, income and occupation, together with information obtained from credit reference agencies. This information allows us to produce consistent decisions, ensuring all our applicants are treated fairly. Credit scoring does not discriminate on the grounds of sex, race, religion or disability.
If you decline my application, what is the reason?
In addition to credit scoring, we also take into account confirmation of your identity, validation of certain application details, existing commitments and information held at the credit reference agencies. Though we are unable to provide you with a main reason for decline of your application, it is usually based on one, or a combination of the following:
- Your credit score (note that every finance company will score you differently)
- Adverse credit reference agency information
- You are considered to be overcommitted
- You are aged under 18
- Your existing account performance with other lenders
What type of information do credit reference agencies hold about me?
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.
How do I obtain a copy of this information?
You should send a cheque for £2.00 made payable to the relevant company, together with details of all addresses at which you have lived over the last 6 years:
- Consumer Help Desk Experian Limited PO Box 8000 Nottingham NG1 5GX
- Equifax Ltd., Credit File Advice Centre. PO Box 1140. Bradford, BD1 5US
- Consumer Services, Callcredit Limited, PO Box 491, LEEDS, LS3 1WZ
The above listed agencies will provide details of information relating to these addresses. If you believe that the information is incorrect, you can ask the agency to correct it.
If my application is not successful, can I re-apply?
Yes. We acknowledge that your circumstances change and just because we have refused a previous application, it does not mean that we'll automatically turn down a further request. We do suggest however, that you leave at least 6 months between applications.
Can I request delivery to an address other than my home?
In order to safeguard against fraudulent applications, we regret that we're able only to deliver goods to the home address of the applicant.
Finance Explanation and Representative Example
Interest Free Finance Example
12 months 0% APR representative interest free finance
Spread the cost with our interest free finance available online.
Our simple finance options allow you to spread the cost of your purchase over 10 months.
All you need to do is:
1. Spend a minimum £250 and above
2. Place a 10% deposit
3. Minimum finance amount after deposit £225 and above
For help with your finance please call 01531 633333
The table below shows you how much monthly repayments will be based on the total order value.
Credit subject to status and affordability. Terms & Conditions Apply. Lock Stock and Barrel Furniture are a credit broker and are Authorised and Regulated by the Financial Conduct Authority.
Credit is provided by Hitachi Personal Finance, a division of Hitachi Capital (UK) PLC Authorised and Regulated by the Financial Conduct Authority.
Cash price £1500
Loan amount £1350
0% APR representative
Interest rate: 0% (fixed)
12 monthly repayments of £112.50
Total term of loan agreement: 10 months
Total charge for credit: £0
Total amount payable: £1500