How does it work?

Here you will find all the information you need on this topic.

What am I signing up to when I purchase a product?

When you purchase a product from Easy Buy, you are signing up to a Hire Purchase Agreement for Products or a Credit Agreement for Vouchers. This allows you to receive the product(s) almost immediately, while paying for them in affordable weekly payments over the agreement term.

What is a Hire Purchase Agreement?

A Hire Purchase Agreement is a form of credit agreement. With a Hire Purchase Agreement, the goods remain the property of Easy Buy until the balance has been paid off. You cannot sell or dispose of the goods for the duration of the Hire Purchase Agreement.

How do I recommend someone?

If you would like to recommend someone you can either use our Recommend a Friend form or call us on 0333 123 9000. Once your friend has been accepted, you will receive £20 off the balance of your account. We will not be paying cash.

What is a Credit Agreement?

A Credit Agreement is an agreement between yourself and Easy Buy. A Credit Agreement is a legally binding contract, that will lay out all the terms of the credit agreement.

Do you deliver nationwide?

Unfortunately we only cover Yorkshire and Lincolnshire at the moment. Use our postcode checker to see if you are eligible. If you are outside of our catchment area, we now also offer the choice to click and collect from our offices should you wish to do so.

Application Process

What is the application process?

Starting an application is quick and easy using our website, by selecting the products you want, and filling in the application form online. Once received it will go to our stage 1 process. If you have not had a call by 3pm the following working day your application has not been successful. If successful at stage 1 it will go to stage 2 and one of our trained sales team members will contact and carry on with your application in more depth which will include an affordability assessment and further questions on your application. Once passed this stage we will then discuss the next process which hopefully ends up with arranging the delivery of your product.

How many products can I take out on an agreement?

When you apply for products from us, we will assess your income and expenditure to determine your level of affordability. Using this you willl be offered a weekly repayment that we can finance you upto.

If you do not qualify the product(s) you want, you may qualify for one of the lower price products, with a lower weekly repayment. By building up a payment history with us, you may be eligible to add new products over a period of time.

I can't see the product I want on the website or your brochure, what do I do?

You can either email us at sales@easybuy.uk.com or call us on 0333 123 9000 and we will see whether we can find the product for you.

What is Retracare?

Here you will find all the information you need on Retracare and other extended warranty services.

What does Accidental Damage cover?

Certain products, such as white goods and brown goods can be protected by Retracare, so should you break them, they could be fixed or replaced. T's and C's apply. There is NO obligation to take out Accidental Damage cover.

Do I own the products when they are delivered?

The products belong to Easy Buy, until you have paid off the full balance of the agreement. Once you have paid off the balance in full, the products then belong to you.

What proof of income and expenditure do I need?

To ensure we lend responsibly, we will need to verify your income and expenditure to ensure you can afford your purchase. We will need your bank statement, and proof of income, such as a wage slip or benefit statement.

Why do I need proof of identity, income and expenditure?

To ensure we are both a responsible lender, and to comply with money laundering regulations. These regulations aim to ensure we do not lend money to you that you can’t afford to pay back, and to stop criminals using financial products and services to launder money. They also protect you from criminals trying to use your identity without you knowing!

I’ve missed my delivery, what do I do?

If you have missed your delivery driver, please give us a call on 0333 123 9000 to organise your product to be redelivered.

How do I find out what time my product will be delivered?

Most of our deliveries will be an all day call, but if you give us a call on 0333 123 9000 on the day of the delivery, we will be able to give you an estimate of the delivery time.

What happens if I am not going to be in?

If you are not going to be available, give us a call at the earliest opportunity on 0333 123 9000 before we attempt to deliver your product or you can arrange to have someone sign the delivery on your behalf but they must be over 18 years old. If no one is available we will attempt to cancel and rearrange your delivery.

Can I get someone else to sign for my delivery?

You will need to have signed the Hire Purchase Agreement, and you can arrange to have someone sign for your delivery as long as they're over 18.

How do I report an issue with the delivery or installation?

If you have an issue with your delivery or installation, please give us a call on 0333 123 9000 as soon as you noticed the issue, and we will try our best resolve the issue.

Can you remove my old electrical appliances under the WEEE scheme at the same time as delivering the goods?

Yes, we can pick up certain electrical goods and dispose of them ourselves. Certain Electrical goods we cannot dispose of ourselves and will be your responsibility to dispose of, such as fridge freezers. To find your nearest Recycling centre, visit the Recycle More website and enter your postcode. Alternatively, we offer our own Recylcing Service on white goods only for a small charge which will be added to your payments

I have changed my mind, can I cancel my delivery?

Simply give us a call on 0333 123 9000, and we will discuss the process with you.

What if the product is too big to fit into my property?

It is your responsibility to ensure that the product will fit into your home and there will be sufficient access to deliver it safely. You MUST check the size of the product and measure any access routes, prior to ordering. If you are unsure if the item will fit, give us a call on 0333 123 9000 and we will check.

I’ve been asked to do an Office Pick-up. Where do I collect my products from?

You will be able to collect the product(s) from our showroom:

• Unit 5a, Carlton Street
• Hull
• East Yorkshire
• HU3 5JL
• Monday – Friday, 9am – 5:30pm.
• You will need to provide ID to prove your identity.

What ID do I need when I pick-up my goods from the Office?

When you come to pick up your products, you will be asked to provide two of the following to help prove your identity such as Photo ID (such as a Driving license or passport), your bank card, and a letter dated in the last month.

I’ve lost my proof of purchase, what do I do next?

If you have lost your proof of purchase, contact our office on 0333 123 9000 and we will be able to help you.

How many weeks till I can get something else?

Our policy, is you have to wait at least 20 weeks, and depending on your circumstances and if the account is in good standing, we will allow you to apply for further credit. The purchase will only be approved if the repayments are affordable for you.

How many accounts can I have?

We generally limit customers to 3 open accounts at a time, to ensure it is affordable for our customers. So if you already have 3 open accounts, and would like to add another account, you will be asked to pay off the balance of one open account.

What are the ways I can pay?

We accept several methods of payments, including Direct Debit, Debit / Credit Card, Standing Order and Cash. If you would like to make an extra payment, call us on 0333 123 9000 to arrange the additional payment.

Can I pay off my account early?

You can always pay extra onto your account, to pay off your balance earlier. We can either increase the weekly payments on your account, or you can make extra payments over the phone via debit / credit card. Give us a call on 0333 123 9000, to discuss increasing your payments. You will not face any penalties and can save money by paying off your account early.

What can I do when I cannot pay my regular payment?

If you are having issues making your regular payments, please give us a call on 0333 123 9000 and press option 2 for accounts, and we can discuss your options.

Our staff will listen, and aim to understand your circumstances. They may be able to offer you help and advise or offer alternative solutions. We’re here to help!

If you would like advice on how to manage your debts, you can do this free of charge by contacting:

• Citizens Advice Bureau Website
• Step Change Website or Telephone: 0800 138 1111
• National Debtline Website or Telephone: 0808 808 4000

My product is faulty, what do I do?

If your product is still under warranty, you will be able to contact the Manufacturer to resolve the fault. Please visit our Customer Service section to find the Manufacturers contact details. If you have Retracare cover, you will be able to contact Retracare on 01234 245900.

If you are still having issues resolving the fault on your product, please contact our Customer Service centre as soon as possible on 0333 123 9000, who will be able to discuss possible options regarding the product.

My product has been stolen, what do I do?

If your product has been stolen, you will still need pay off the balance of the product.

I’ve accidentally dropped my product, what do I do?

If your product is covered by the Accidental Damage cover, you will be able to contact Retracare on 01234 245900 to make a claim. If you do not have accidental damage cover, you will need to keep making payments on your product until the balance has been paid off, under the terms of your Hire Purchase Agreement.

What happens if I am not happy with the repair or the product?

Please contact our Customer Service team on 0333 123 9000 who will discuss the options available to you OR contact the Manufacturer if you have dealt directly with them.

If I am unhappy with your decision, what can I do next?

If you are unhappy with the decision we have made, you can lodge a complaint by going through our complaints procedures.

If I am still unhappy with your decision, what can I do next?

If after making a complaint you are still unhappy with the decision we have made, you can contact the Financial Ombudsman.

The Financial Ombudsman Service

Exchange Tower

London

E14 9SR

By phone: 0800 023 4567

By email: complaint.info@financial-ombudsman.org.uk

Website: http://www.financial-ombudsman.org.uk

My goods need to be repaired, but I have no warranty or service cover in place?

Please call us on 0333 123 9000, as we may be able to complete a repair via a third party. In most cases, we will be able to divide the cost into affordable weekly payments.

Having trouble paying?

If you are having trouble paying, then please see our Financial Wellbeing page for more information and guidance to help you.

Want to know more about some key financial terms? See below some important things to know and ways to enhance your knowledge.

Open Banking - What is it?

National Insurance - Everything you need to know

What is an IVA and how does it work?

Identity Fraud - What to do

Credit Agreements - The basics

Loan Sharks

APR (Annual Percentage Rate) - The term annual percentage rate of charge (APR) means the interest rate for a whole year (annualized), rather than just a monthly fee/rate, as applied on a loan, mortgage loan, credit card, etc. It is a finance charge expressed as an annual rate.

Arrears - Money owed past the date it was due to be paid.

CCJ - CCJ stands for County Court Judgement. This is an order made by a judge for any outstanding debt to be paid. Be warned, these can affect your credit rating.

Credit - When you get something on credit, a bank or company have given you the money to buy the product/service. You must then pay that money back, usually with interest on top of it.

Credit Card - A card given to you by your bank or building society which allows you to buy things and then pay for them at a later date. Often there's a limit on these cards of how much can be spent in a month. There will be interest on top of your payments if you don't pay off the full amount.

Credit Limit - As mentioned above, this is the maximum amount you're allowed to use on a credit card every month.

Creditor - The person or company that is owed the money.

Credit Rating - Also known as your Credit Score, this is a scale which determines your ability to repay any finance or credit loans. Banks and lenders often use them as a way of deciding whether to lend money or not. It is based on income and any previous credit payments and whether they were made on time or not.

Credit Reference Agency - These are companies which are allowed to collect and store info about consumer's financial behaviour, history, and borrowing. When applying for credit or a loan, you sign a form and this gives the lender permission to check the information they hold. CRA's in the UK include Experian, Equifax, and TransUnion.

Credit Union - These were created to help its members save money and be able to access loans from the savings the members of the Union have pooled together. These are seen as ethical and 'people helping people.' They're non-profit and any surplus funds made are shared equally among the members via an annual dividend. These savings are 100% guaranteed by the Financial Services Compensation Scheme.

Credit Report - This is a summary of your credit behaviour and history. It tells you whether you have any outstanding debts, how often you apply for credit, if there's any CCJ's being filed against you, or if you have any missed payments. These are available for free on request from a Credit Reference Agency.

Credit Search - When you apply for credit or a loan, the lender will perform a credit search on you. This looks into your past credit history, whether you've paid bills on time, if you have any missed payments or erratic behaviour. It helps the lender to make an informed decision on whether to accept your application or not.

Debt - This is money owed to a person or company.

Default - If you feel to pay the agreed amount in the agreed amount of time, it means you have 'defaulted' on your agreement.

Direct Debit - This is an instruction set up by you to allow the bank to send money from your account to pay a bill. These are helpful for household bills such as internet or gas and electric which can differ from month to month. You agree these with the company and cannot be set up without your approval.

Financial Conduct Authority (FCA) - The FCA is an independent governing body which ensures financial companies and firms are treating customers fairly and ensuring they are lending money responsibly. These are funded by charging a fee to the financial services it governs.

Financial Ombudsman Service (FOS) - These work as a middle ground when there is a dispute between a person and the lender. They do what they can to settle the dispute and find a happy middle ground.

Fixed Interest Rate - This means the rate in which you pay remains the same over the course of the loan and cannot increase or decrease.

Hire Purchase (HP) - A form of credit agreement where you pay regular instalments. A good example of this is buying a car. You pay regular payments until the value of the agreement is paid off. You can't sell the goods without the permission of the lender, or until your debt is paid off. After that the goods are yours to do with as you please. If you fail to make the payments the goods can be repossessed.

HMRC - This stands for Her Majesty's Revenue and Customs. It's a non-ministerial government department which collects taxes, controls child benefits, minimum wage and issuing national insurance numbers.

Income Tax - This is a tax on your personal income. It's usually taken directly from your wages.

Interest - This can mean two things. It's either money you get back as a reward for keeping your money in a savings account or in a building society. But can also mean the cost you can pay on top of a loan or credit agreement.

Interest Rate - This is the percentage of interest paid on savings or on a loan. An interest rate of 5% on your savings is better for you than a rate of 1%. Meanwhile you would pay more on a loan if the rate was 5% than 1%.

IVA - This stands for Individual Voluntary Arrangement, and is legally binding. It's an agreement with your creditor to pay back any debts owed over a period of time. This does however mean it is court ordered and your creditors must stick to it. It can be flexible not fixed to suit you, but can mean you struggle to get credit for six years after it's issued.

Insolvency - When a person or company are unable to pay their bills. Legal action follows and any assets a person or company own may be liquidated to help pay off any outstanding debts.

Lender - A person or company which lends out money.

Loan - An agreement between the lender and a person or company. The borrower will agree to pay the money back over an amount of time, usually with interest on top of it.

Loan Shark - A lender who isn't governed by the FCA who lends money often to people who will struggle to pay it back. They are known to target those on low incomes and offer them high interest loans. If you want to check before you apply for a loan from someone, check the Financial Services Register to see if they are authorised by the FCA to hand out loans. You can also report loan sharks anonymously by calling 0300 555 2222 or texting 07860 022116. Alternatively you can email reportaloanshark@stoploansharks.gov.uk.

Minimum Repayment - The lowest amount you can pay towards any money owed on a credit card. It is usually on your monthly statement.

Money Laundering - An illegal process of obtaining money though criminal activity. By having illegal money come into your account but it's made to look like it comes from a legitimate source.

Online Banking - Operating your bank account over the internet rather than going to your local branch.

Overdraft - An agreement between you and the bank which means you can spend more money than you have in your account. However you may be charged interest to use your overdraft.

Overdrawn - If you do not have an overdraft set up and spend more than you have in your account, you are overdrawn. This can lead to banks possibly refusing to pay your cheques and can charge you high interest every day that you are overdrawn.

Secured Loan - This is money borrowed from a lender, using your property or another asset as a guarantee of repayment.

Standing Order - Similar to a direct debit, the difference being a standing order is regular payments that don't change. The same amount will be released from your account every month and it is up to you to alter it if the payment you owe changes.

Statement - This is a document your bank or building society send you which shows all the ins and outs into your bank account. Everything you've paid for appears on this document and it's sent to you periodically.

Term - This is the time period over which you borrow money.

Unsecured Loan - This is money borrowed from a bank which isn't secured against your property or an asset. The lender may take you to court for payment if the money isn't paid back as agreed.

Withdrawal - When you take money out of your account, this is known as a withdrawal.