What is Shawbrook point of sale finance?

As well as our personal loans and mortgages, Shawbrook offers finance products through an approved network of retailers, home improvement companies and holiday ownership resorts.

What finance products do you offer?

We offer a range of products, over a variety of terms, including interest bearing, interest free, deferred and buy now pay later finance products.

APR’s range from 0% to 19.9%

What type of businesses do you offer credit to?

We work with home improvement companies, holiday ownership resort operators and most types of retail businesses. Some examples are furniture, cycles, musical instruments, audio visual, dental and healthcare.

How will Shawbrook treat my customers?

We promise that we will:
• Act fairly and reasonably in our dealings with your customers
• Help them understand the financial implications of their loan
• Provide your customers with a high quality service

Are loans secured on the property or the item purchased?

No, all of our Point of Sale lending products are unsecured loans.

Do you offer fixed or variable rates?

We are able to provide interest free, fixed or variable rate loans for your customers. Our team will discuss the finance options available with you to create the best finance solution for your business.

How much could my customers borrow?

Loan terms available and maximum amounts that customers can borrow will vary depending on the type of purchase being financed and type of finance product offered.

Will my customers need to pay a deposit?

This will depend on the type of purchase being financed and type of finance product offered. We do offer some low or no deposit required products.

Do I need to be FCA authorised to offer Shawbrook finance products?

While our home improvement products are exclusive to FCA authorised businesses, our Retail products include some credit facilities for retailers that are not FCA authorised.

Can I offer more than one type of credit product?

Yes, we can offer a complete range of credit facilities to suit your business, catering for sale and promotional credit.

Offering finance is new for my business. How do I know what products are right for my customers?

Many businesses have the same questions. Our Regional Account Managers are point of sale finance specialists, with years of experience in this sector, that will be happy to assist you.

Could I integrate your systems with my website or business systems?

Yes, we use the latest technology to provide you with a range of integration options that would suit your needs.

How do my customers apply for the loan?

We have a number of customer journey options depending on what is best for your business. In most cases, it is a simple online application which can be completed in a matter of minutes.

How quickly do you provide a decision on loan applications?

In most cases decisions are made immediately. Where the case needs to be referred to an underwriter, we have underwriters available 7 days per week to process the application.

Will loan documentation be sent to my customer by post?

If your customers have applied online we will send an e-signature pack to them instead.

Which Credit Reference Agencies do you use?

We use Equifax and Callcredit as our reference agencies.

What is an APR?

An annual percentage rate (APR) is the annual rate charged for borrowing and is expressed as a percentage that represents the actual yearly cost of funds over the term of a loan

What APRs do your offer for Point of Sale products?

Our point of sale products range from 0% to 19.9% APR depending on the type of product being financed and finance product offered.

Can customers increase their monthly direct debit amount?

The monthly Direct Debit amount will be the minimum monthly repayment quoted on the customer credit agreement.

How long does it take before we are paid for the goods?

For most retailers, once you have supplied your customer with the products that have been financed you request payment and, we will pay you next working day.

I have a question about a current application, who can I speak to?

Please call our Partner Support line on 0345 600 7680.

How do I arrange training for my sales teams?

Please contact your Regional Account Manager.

I have a query about my commission payments, who can I speak to?

Please call our Partner Support line on 0345 600 7680.

Can my customers settle their credit agreement early?

Yes, they have the right under the Consumer Credit Act 1974 to repay all or part of the outstanding balance at any time.

Who do my customers contact if they have questions about their credit agreement?

If they have a question about their loan or purchase before their credit agreement starts, we would expect them to contact you directly as the company they are arranging their loan with.

Can my customer change their bank details or payment date?

They can contact our customer services team on 0345 650 6290 (Monday to Thursday 8am to 8pm, Friday 8am to 6pm and Saturday 9am to 2pm, excluding Bank Holidays).

Can the customer make payments during the deferred period on a Buy Now Pay Later agreement?

Yes, a customer can make additional payments to their loan at any point. Making a payment in the deferred period of a BNPL agreement would reduce their balance when the loan rolls into an interest-bearing loan.

What is the Shawbrook App?

Our Shawbrook App is available for our Home Improvement clients. The Android and iOS app helps frontline sales staff show the benefits of Shawbrook finance in the customer’s home.

How do I obtain the link to download the Shawbrook App to my device?

Your dedicated Regional Account Manager will be able to provide the appropriate link for Android and iOS devices.

I’ve received the message ‘Untrusted Enterprise App’ when downloading the App on my iOS device. What do I do?

 Click on Settings
 Click on General
 Click on Device Management
 “Trust” Shawbrook Bank Ltd

Who should I contact if I have an issue with the App or Shawbrook Application Processing system?

Please call our Partner Support line on 0345 600 7680 or your dedicated Regional Account Manager in the first instance.