V12 Finance

To be eligible to apply for finance you must:

• Be at least 18 years of age
• Have been a UK resident for at least 3 years
• Have a debit or credit card in your name, registered to your address in order to cover deposit (if applicable)
• Have a Bank or Building Society current account available (you’ll need this in order to complete direct debit instruction)
• Be in regular employment* including self-employment, or in a permanent residence with your spouse/partner who is in regular employment

* If you are a working student in part-time work, retired and receiving a pension or in receipt of a disability benefit, V12 Retail Finance may ask for proof of sufficient income. Finance is not available for unemployed individuals.

During the application process, you will be asked for your personal information such as name, 3 year address history, date of birth, email address, telephone contact details and employment/income information.

Interest-Free Finance – Our interest-free finance option allows you to split your payments over 6 to 12 months with no arrangement or early settlement fees. This option is available for orders over £350.

With most applications, we expect that you will be given an acceptance or decline decision within 10-20 seconds. In some cases, V12 may return the decision as ‘referred’. You will then be contacted for further information. Once the underwriters have made a decision you will receive an email confirming our decision. For in-store applications, you can usually wait in the shop whilst the underwriters review your application. Underwriting hours are 8 am to 8 pm, Monday to Friday, 9 am to 6 pm on Saturday and 10 am to 5 pm on Sunday & Bank Holidays. If your application is referred outside of these hours then you may have to wait until the next working day for the decision.

Yes – financial service companies like V12 Retail Finance use credit scoring to evaluate the credit risk of new applicants. 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 V12 Retail Finance to produce consistent decisions, ensuring all our applicants are treated fairly. Credit scoring does not discriminate on the grounds of sex, race, religion, disability or colour.

Should V12 decline your application they are unable to share the reason for the decline with you or us.

V12 will give you the contact details for the credit reference agency used. They will also give you information on how to appeal the decision if you wish to discuss the matter further. Please note that V12 is unable to discuss this over the telephone due to Data Protection rules. You should also note that each lender applies its own credit score to applicants so if you have recently been accepted for credit elsewhere this does not necessarily mean that appealing the decision on this basis alone will result in a change of decision.

If your application is denied, you can always re-apply (especially if your circumstances have changed) but, they do recommend leaving at least 6 months between applications.

V12 Retail Finance will check your credit score and will need to confirm your identity, validate certain application details, check existing commitments and information held at the credit reference agencies. You will not be provided with a reason if the application is denied but, it could be one of the following reasons:

• Your credit score (please note that every finance company will score you differently)
• Adverse credit reference agency information
• You are considered to be over committed
• You are aged under 18
• Your existing account performance with other lenders

For orders made online or via mail order using finance, we are only able to deliver the goods to the address on your credit agreement or an address approved by V12. The collection of goods from the store or delivery of goods to addresses not approved by V12 is not permitted.

Please note: if we are delivering your order, it will need to be signed for at your property. It cannot be collected from a depot.

If you wish to return some or all of your goods please refer to our returns policy. If your return meets our returns policy, we will contact V12 to update or cancel the credit agreement.

Paddle & Surf (Plus Out Ltd) acts as a credit broker and only offers credit products from Secure Trust Bank PLC trading as V12 Retail Finance.

Secure Trust Bank is registered in England and Wales 541132. Registered office: One Arleston Way, Solihull, B90 4LH. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registration number: 204550.

Paddle & Surf (Plus Out Ltd) is registered in the United Kingdom 05903829. Registered office: Unit 8D/E, St Columb Industrial Estate, Newquay, Cornwall, TR9 6SF. Plus Out Ltd is authorised and regulated by the Financial Conduct Authority. Our registration number is 230026762.