Frequently Asked Questions

With a consumer loan you can take away the upfront cost of buying new equipment and spread it into affordable monthly payments – so you can relax and focus on what really matters in your home. As with any loan eligibility is subject to credit and verification checks.

You can use a loan to pay for most things you want to buy from our partners including:

• A new energy efficient equipment and associated parts for installation
• The installation of new equipment and removal of the old one (if required)
• Installation of any associated thermostats and controllers
• Additional items you need to purchase such as system flush, scaffolding, radiators and hot water cylinders

You apply for a Loan via one of our partners and if accepted the loan provider (HomeServe Finance) will pay for your equipment on your behalf upfront in one payment. You then simply make monthly payments until the loan amount is repaid. You own the equipment from day one and can settle the loan at any point by simply paying the loan amount outstanding and some interest. As with any loan eligibility is subject to credit and verification checks.

HomeServe Finance offers two types of finance:

• Interest Bearing Loans – these are loans that charge interest on the amount borrowed and can be paid back over a number of different terms. This type of loan gives you the flexibility to choose a term that matches the level of monthly payments you want to make.
• Interest Free Loans – these are shorter term loans that do not charge you interest but are generally shorter in length so the monthly payments can be higher. This type of product allows you to spread the cost of your equipment without paying interest.

Once your equipment is installed you will be asked to electronically sign a Satisfaction Note. Once you have signed the note to confirm you are happy with the installation, you will start to make your monthly payments. You will also receive a welcome email providing more details about your loan and how to manage it going forwards.

Via a Direct Debit payment which will be collected from your bank account. On your bank statement the payment will show as 'HomeServe Loan'.

If you need to change your Direct Debit details, for example, you have changed your bank account, simply call us on 0330 808 9277 (9am-5pm Mon to Fri – call charges may apply, please check with your network provider) or via uksupport@homeservefinance.com (Please do not include your updated bank account details in any email communication).

Simply email us via uksupport@homeservefinance.com. We will then get in touch to arrange a new Direct Debit payment. Alternatively call us on 0330 808 9277 (9am-5pm Mon to Fri – call charges may apply, please check with your network provider).

We understand circumstances can change and therefore if you need to talk to us about your payments simply email us via uksupport@homeservefinance.com. We will then get in touch to talk it through with you. Alternatively call us on 0330 808 9277 (9am-5pm Mon to Fri – call charges may apply, please check with your network provider).

You can choose your payment date when finishing your Loan application. If you need to change your payment date once your loan is live you can still do this by contacting us. Simply email us via uksupport@homeservefinance.com or call us on 0330 808 9277 (9am-5pm Mon to Fri – call charges may apply, please check with your network provider).

Please note any change to your payment date may affect the amount of interest you pay and the term of your loan.

HomeServe Finance do not offer payment holidays but if you are having difficulties making monthly payments, please contact us as soon as possible via uksupport@homeservefinance.com or call us on 0330 808 9277 (9am-5pm Mon to Fri – call charges may apply, please check with your network provider).

Yes, you can pay the agreement off early at any point by paying off the outstanding loan amount and some interest (if your loan charges interest). A specific early repayment figure can be provided by us – simply email us via uksupport@homeservefinance.com or call us on 0330 808 9277 (9am-5pm Mon to Fri – call charges may apply, please check with your network provider).

For combined financing products where servicing, maintenance and repairs are included you can either settle your loan early or terminate your agreement – both of which have different costs. Simply contact us on the details above and we can explain your options.

Yes, all finance providers need to comply with strict identification and verification processes to provide you with protection from fraudsters and to ensure the finance provided can meet your needs. If you open one of our loan products a record of your application, loan and ongoing payments will be provided to a Credit Bureau.

Yes, all finance providers provide some information to credit reference bureaus for a number of reasons including:

• Enabling people to access credit safely
• Prevent fraud
• To protect vulnerable customers
• To ensure the financial system can operate safely

However, we only provide information to credit reference bureaus once you have signed your Loan agreement.

Simply contact us via uksupport@homeservefinance.com or call us on 0330 808 9277 (9am-5pm Mon to Fri – call charges may apply, please check with your network provider). In addition, you will receive statements once a year showing your payments made and outstanding loan amount.

The interest rate is the amount you are charged for borrowing money, shown as a percentage of the total amount of the loan. The higher the percentage, the more you have to pay back, for a loan of a given size.

Annual percentage rate (APR) is the official rate used to help you understand the cost of borrowing. It takes into account the interest rate and additional charges or costs.

Once you have signed your Loan agreement you can arrange your installation date with the partner you bought your equipment from, either online or by calling their team.

Please contact your installer directly.