We work with our lending partner, Family Finance, who offer ‘rent-to-own’ hire purchase agreements over a period of 1-3 years for you to purchase Family Vision goods. The exact terms will depend upon your personal circumstances and on the affordability assessment undertaken by Family Finance. This is to ensure the repayments are affordable for you.

This is a type of borrowing called ‘hire purchase’ – you don’t own the goods until you have paid in full. If you fall behind with payments, or have financial difficulties such that you cannot pay, you may be able to return the goods to your lender, Family Finance. They also have the right to repossess the goods if you stop paying.

‘Rent-to-own’ is a specific category of ‘hire purchase’ which has to ensure that the interest rate on the agreement is not too high. The total amount you pay for the goods never exceeds double the cash price (including delivery etc charges). Additionally, the price of the goods is checked against at least 3 other retailers to ensure it is competitive, in a process called benchmarking.

Our lending partner, Family Finance’s interest rate is fixed 33% flat per annum. This works out at 73.50% APR over 1 year; 70.20% over 2 years and 66.20% over 3 years.

Here is a representative example of what you would pay for typical goods:

No late or hidden charges apply during your agreement. Delivery Charges Apply (See Question 20)

We are required by law to set the price of each product we sell in line with other ‘mainstream sellers’ to ensure you pay a fair price. We use a process called benchmarking where we compare every product with at least 3 other national/independent retailers and set the price to reflect this. We do this regularly to ensure you always get value for money when purchasing from us.

You must be over 18 years of age, be a resident in the UK and have a regular income. In addition, you cannot have been declared bankrupt nor had a DRO or IVA in the past 12 months. If you have an IVA currently in place, you will need to obtain permission from your IVA supervisor before obtaining any new credit over £500.

You can apply to Family Finance by completing an online application form here, by discussing this with your current collector if you are a current customer, or by calling 01495 726565 and they will explain the easiest way for you to apply.

Our lending partner, Family Finance, offers monthly credit agreements usually over 1-3 years, depending on their affordability assessment and your circumstances.

Once an application is approved by Family Finance, someone will be in contact to arrange the signing of your credit agreement, set up automatic payment and or explain other options to pay and to arrange an agreed delivery time

If the application is not approved by Family Finance, someone will be in contact to explain why. A letter of confirmation will also be sent explaining how to contact any credit reference agency used during the process.

The cash price of the goods will always be provided up-front. If you want to pay for your purchase with a Family Finance loan, you will pay more. See repayment calculator for the cost of borrowing. There are no initial set up charges and you will never be asked to pay any upfront payments prior to our lending partner, Family Finance, offering you a credit agreement. The only cost is the fixed interest charge and a small ‘option to purchase’ fee with the last repayment. These are added to the loan value which is shown as the total amount payable (TAP) see the loan calculator example.

You can make repayments to Family Finance by cash or via a slot meter (which it can install) but many customers now prefer to pay by debit card, standing order or continuous payment authority. Before granting you credit, our lending partner, Family Finance, will need proof of your income and expenditure to assess affordability. If you do not have a bank account, please get in touch with us to discuss options available, as our lending partner, Family Finance, still may be able to help.

You must have a regular income and the ability to repay the loan on time. Our lending partner, Family Finance, will consider current and previous credit history as part of the affordability assessment. We obviously cannot guarantee that everyone who applies will be successful.

Yes. CCJ’s are considered and will be assessed as part of the affordability process, but our lending partner, Family Finance, doesn’t automatically refuse people with CCJ’s.

Yes. All loans are registered by Family Finance with both Experian and Equifax The payment information is then updated every month.

Some goods may already be in stock and will aim to be delivered within 2-5 working days of your credit agreement being signed. Those that need to be ordered in will have individual delivery times which will be discussed at the point of order. For items such as sofas & some furniture this can be up to 16 weeks.

Your first repayment is normally due within 1 month of you receiving the goods.

Just contact Family Finance on 01495 726565 or your collector and they can ensure you receive a revised settlement figure that may include an early settlement rebate of charges. There is no charge added for early settlement.

We deliver Monday to Friday.

Delivery charges apply and are as follows:

Delivery charges can be paid upfront or added to the credit agreement with Family Finance. Please note, if the delivery charge is added to the agreement, then interest will also be applied to that. The total amount payable (TAP) will be calculated on the cash price of the goods plus the delivery price (& the option to purchase fee).

Family Finance conduct affordability assessments as a responsible lender, in line with the rules of the Financial Conduct Authority. Family Finance will use this information to determine whether they think you can afford to repay the credit agreement. An affordability assessment is a straightforward series of questions and checks, to establish that the credit agreement is both right and affordable for you. By reviewing your current income and outgoings, they establish whether your repayments will be sustainable throughout the term of the agreement as where possible they would like to avoid you getting into financial difficulty.

Yes. Circumstances can change and our lending partner, Family Finance, need to establish that the agreement is both right and affordable to you at the time.

This will depend on the circumstances as to why the last loan ran over term and confirmation via the affordability assessment that your current situation will allow for your new repayments to be sustainable throughout the term of the loan and that you are unlikely to get into any undue difficulties.

Not unless the application is a joint application, in which case both applicants are expected to complete the affordability assessment and provide evidence.

Family Finance will require proof of income, such as your most recent wage slip or benefits letter and proof of your regular monthly outgoings (bills etc). They also require proof of ID and address. This can include photographic ID, bank statements, utility bills and benefits letters.

No. Whilst the home collection service will remain for the entirety of the agreement, you will have the option to pay by debit card, Continuous Payment Authority or standing order.

There are different payment options available including payment through a collector using a coinmeter, standing order, Continuous Payment Authority (CPA), cash, debit card and bank transfer.

No. Debit card only. Family Finance does not allow credit to be used as a method for repaying credit.

Yes, you may choose to pay electronically if you prefer.

If you miss a payment then this can be caught up the next time or during the term of the agreement. If you miss payments you will be contacted by a someone within the Family Finance collections team to establish the reasons why and agree a way to resolve. Please remember that your payment data is sent to Credit Reference Agencies each month and so repeated misses could negatively affect your credit score and consequently your ability to borrow in the future.

No. Our lending partner, Family Finance, does not charge any missed or late payment fees.

Contact Family Finance immediately. They will show forbearance in these circumstances and will work with you to find a repayment plan that is affordable and allows for your change in circumstances.

Yes, Family Finance will inform two credit reference agencies, Experian and Equifax of your credit agreement details and payment history on a monthly basis.

We would suggest that you contact one of the “not for profit” debt counselling services such as, Stepchange or National Debtline. See familyvision.ltd.uk/Customer-Support/help and support.mp4 for more details on organisations that can help.

Both Family Vision (FRN 730529) and our lending partner, Family Finance (FRN 705451) are authorised and regulated by the Financial Conduct Authority as a credit broker and lender respectively. We are also members of the Consumer Credit Association (CCA). Consumer Credit Trade Association (CCTA) and Finance & Leasing Association (FLA).

We always try to provide the best possible levels of service to our customers but in the event that you are dissatisfied and wish to raise a complaint, you should contact us-
By telephone: 01495 726565
By email at: Complaints@familyvision.ltd.uk
By letter to: FAO Head of Compliance, Family Vision Ltd, 19-21 Commercial Street, Tredegar, Gwent, NP22 3DH

We always deal with your concerns ourselves. However, if you are not satisfied with our final response or if eight weeks have passed since you first let us know about your concerns, you can then ask the Financial Ombudsman Service to review your complaint free of charge. For more details regarding the Financial Ombudsman Service please see below

The Financial Ombudsman Service, Exchange Tower, London, E149SR
08000 234567
Complaint.info@financial-ombudsman.org.uk
www.financial-ombudsman.org.uk