V12 Retail Finance

V12 Retail Finance: finance for retail purchases in the UK

V12 Retail Finance Limited is a British entity that acts as a credit broker, not a lender, and introduces customers to Secure Trust Bank Plc, its parent company. The company has been offering finance solutions for over 20 years so that consumers can spread the cost of their purchases. Its activity is aimed both at retailers looking to offer payment options to their customers and at consumers financing products such as sofas, rings, bicycles or works of art.

The firm works with more than 1,200 retailers in the UK and has processed millions of applications. It is part of the Secure Trust Bank Group, a group with over 70 years of history that provides savings and lending services to more than a million customers.

Finance products for retailers

V12 Retail Finance structures its offering into three main types, designed so that merchants can adapt the terms to each type of purchase.

• Interest free finance: allows the customer to pay in instalments without interest charges over a fixed term. Standard terms range from 3 to 60 months and it is available for purchases from £100 to £50,000, depending on the retailer. Approval is subject to the age and personal circumstances of the applicant.
• Interest bearing finance: works like a traditional loan, with repayment of the capital plus interest over a fixed term. Standard terms range from 12 to 120 months, with amounts from £250 to £50,000 (depending on the retailer) and annual percentage rates (APR) from 4.9%. Approval also depends on the age and status of the applicant.
• Buy now pay later (deferred payment): the customer can purchase the product and pay later, with a deferred payment period of 6, 9 or 12 months. During that period they can pay in part or in full without interest; at the end, they have options to continue with payment.

Personal loans through V12 Personal Finance

In addition to retailer-linked finance, the company offers personal loans under the V12 Personal Finance brand. This product is presented as a way to finance personal projects, such as the purchase of furniture, jewellery, bicycles or art. V12 Personal Finance is a trading name of V12 Retail Finance Limited and acts as a credit broker, not a lender: it introduces the applicant to a limited range of lenders and brokers who may offer them a loan. Before completing the application, the customer is shown any commission arrangement in place with the chosen lender or broker.

The requirements indicated for these loans include being a UK resident, being at least 18 years old and having regular provable income. This is a regulated credit product; failure to maintain payments may result in charges, repaying more than borrowed and difficulty obtaining future finance.

V12 app for customers

Customers who already have a finance agreement with V12 can manage it through the V12 app. This tool allows them to check their balance, track payments, change the payment date, view documents and send secure messages to request support. The app is presented as a single channel for managing finance.

Corporate structure and regulation

V12 Retail Finance Limited is registered in England and Wales with number 4585692 and authorised and regulated by the Financial Conduct Authority (FCA) with registration number 679653. Its registered office is at Yorke House, Arleston Way, Solihull, B90 4LH, and its correspondence address is 25-26 Neptune Court, Vanguard Way, Cardiff, CF24 5PJ.

The company operates as a credit broker and not as a lender, and introduces customers to Secure Trust Bank Plc, its parent company. Secure Trust Bank PLC is registered in England and Wales with number 541132, authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority with registration number 204550. Its registered office is the same as that of V12 Retail Finance at Yorke House, Arleston Way, Solihull, B90 4LH. V12 Retail Finance is a trading name of Secure Trust Bank PLC.

The company states that all communications with customers may be monitored or recorded to improve the quality of service and for protection and security.

Retailers and customers: two distinct audiences

The V12 Retail Finance website organises its content into two areas: one for retailers and one for consumers. The retailer section includes information on finance products, the V12 system, how to become a retail partner and access to a login area. The customer section offers details about the company, the V12 app, where to shop, finance products, personal loans, helpful information on dealing with difficult times and money worries, support for individual circumstances, FAQs, customer charter, news and sustainability.

The company states it was one of the first to offer retail finance online and works with retailers in thousands of UK locations. According to its own presentation, it has approved millions of applications and has tens of thousands of reviews on Trustpilot, where it is awarded an excellent rating.

Headquarters and locations

Main location: Yorke House, Arleston Way, Solihull, B90 4LH

Correspondence address: 25-26 Neptune Court, Vanguard Way, Cardiff, CF24 5PJ