• Mon - Sun 9.00 - 9.00
  • 129 lavender Hill Battersea , SW11 5QJ , London
  • 020-7175-7594

Frequently Asked Questions

 

If you are over 18 years old, are a UK resident hold a UK driving license and have a UK bank account and debit card then you are eligible to apply for a Rent2Buy agreement

 

Unfortunately its not as simple as that. Each application we receive is assessed on an individual basis taking a number of different factors into account. We do not use the conventional methods and have an in-house stress test which checks various parameters. Therefore we are unable to offer you an indication on whether your application would be accepted prior to you submitting it. We will not carry out a credit search so you need not worry. Just because you have been rejected for credit by other companies does not mean we will decline you.

 

All applications and inquiries for an account with Rent2Buy usually have to be received online through our website, where we have made the application process as quick and easy as possible. Alternatively, you can call us on 020 7175 7594.

 

No, we do not carry out a hard credit search, we require certain documentary proof from you prior to the agreement to check affordability as this is not a conventional loan it is a simple rent 2 buy agreement. We will carry out a soft search which does not show up on your credit profile.

 

Yes. As part of our application process, we have to see confirmation paperwork to enable us to verify your details and identity and to help us assess affordability.

 

The only thing you need to demonstrate is that you can comfortably afford the rent 2 buy payments without adding additional stress to your day to day living. It is not essential that you are in full-time employment.

We deal with a lot of clients who receive disability, carers allowance and or working tax credits. We do however reserve the right to contact your employer to confirm details on your employment.

 

We use standing Orders to repay your loan. If your standing order is unpaid, we will advise you. On non-payment of a standing order, we would request that the outstanding payment is made by debit or credit card or cash and that the standing order be reinstated for the remainder of the payments. When a standing order payment is unpaid this will incur an administration charge.

 

Within the Terms and Conditions of the rent to buy agreement, you can find all the relevant information if you are entitled to end your agreement early. It is different depending on the length of your agreement or terms placed when your agreement began. This may be a partial payment or payment in full before the original due date. Customers can request to repay their agreement any time prior to the payment due date. Customers must bear in mind if their payment is set up via standing order they should instruct their bank to cancel payments after having cleared their account.

If any of your circumstances change however small and you have any concerns about repayments please immediately contact our advisors on 020 7175 7594 (Calls to this number from a BT landline are charged at BT’s rates. Other providers charges may apply).