“The home improvement sector was quite late to catch on to ‘buy now, pay later’ finance but take-up has been staggering since it was introduced,” says CCS Partner, Peter Nicholson. “Five years ago, ‘buy now, pay later’ was a tiny part of the business but last year we managed around £40million worth of deferred credit – that’s about 40 times the amount in 2002.”

Glasgow-based double glazing firm Gold Seal Home Care Ltd has seen rapid results since introducing ‘buy now, pay later’ with CCS five months ago: “We are absolutely delighted with the impact that buy now, pay later has had on our business. It now accounts for 70% of our turnover and has put us where we want to be in the marketplace,” said Brian Patterson of Gold Seal.

One company that caught on early is fitted furniture specialist Betta Living, which has 21 showrooms across the UK. “We introduced the scheme three years ago and it really differentiated us from our competitors. Offering ‘buy now, pay later’ credit gives our customers more choices and has helped us to a great position in the market. It has definitely led to increased traffic and enabled us to upsell,” said Managing Director, Jamie Dean.

Peter Nicholson puts the success of the finance deal down to benefits for all sides: “Consumers effectively have up to twelve months on an interest free payment holiday. That gives them time to source the cheapest finance or an extra year with their savings intact. Alternatively, they can set up a low-cost loan at the point of sale that can start when the interest free period ends. Meanwhile, our clients get all the benefits of this great sales tool very cheaply thanks to our buying power,” he said.

Specialising in credit for the home improvement sector, CCS acts as an independent finance provider that uses its £150million per year buying power and impartiality to offer finance products from a select group of blue-chip lenders. Other credit offerings include interest-free and lowrepayment terms, including CCS’s newlydeveloped and unique Bankbuster, which at 4.9% is currently the UK’s lowest unsecured loan rate.

For more information call 0845 1206666.

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