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INDUSTRYNEWS


CCSAPPROVES £51M HOME IMPROVEMENT LOANS IN BEST EVER 4TH QUARTER


Lancashire-based Consumer Credit Solutions (CCS) achieved its best ever trading quarter in Q4 2011, managing an approved lending figure of just over £51 million for homeowners. This coincided with its best ever October with £18.9 million of approved loans.


Operating exclusively in the home improvement market, CCS provided unsecured loans to customers of retail installers totalling almost £155 million in 2011, thus enabling CCS’ trading partners to sell big ticket items such as Windows, Conservatories, Kitchens, Bedrooms, Bathrooms, and PV Solar Panels.


CCS is by far the largest and only truly


independent provider of point-of-sale credit, providing finance solutions to many of the UK’s top 100 home improvement companies, and is the preferred choice of almost all the top regional home improvement companies.


Andy Wallace CCS Managing Partner says:


“Traditional direct lending sources such as banks and building societies are currently extremely cautious, and remortgages and personal loans are now far more difficult to come by. So it’s therefore harder for homeowners to buy and harder for companies to sell. Homeowners are being squeezed and they’re more cautious. They have some money, but few have enough available cash that’s not already earmarked for some other purpose. Around 85% of the UK adult population do not have ready access to £2,500 or more, and only 15% can therefore write a cheque for that amount on the spot, which often delays or derails a sale. They may have the monthly disposable income to finance the project, and can afford to buy, but homeowners may be reluctant to do without one purchase for the sake of another.”


Andy believes that many small to medium sized home improvement companies are missing a trick by not offering ‘in house’ finance because they see it as complicated, and unattractive to their prospective customers. He says “Many installers mistakenly believe that finance is still about high-interest rates and hard-sell. But times


and products have changed. High street retailers use soft-sell credit products such as Buy Now, Pay Later, interest free credit, and low-rate finance because they make it easy for consumers to buy bigger ticket items. These low or no-interest ‘soft-sell’ promotional finance products are quite different from the old high-interest hard-sell products which are expensive and normally associated with the large national direct sell firms. CCS has been introducing the soft-sell credit concept to home improvements for many years. These credit products make it easier to sell, and by making it easier for homeowners to buy, our trading partners have a distinct edge over many of their competitors.”


Some home improvement companies see finance as difficult to sell, but CCS’ training and support make it simple and straightforward. Consumer Credit Solutions is the only finance supplier in this market genuinely providing full staff training and ongoing account management support.


“We find that companies who switch to promoting finance options soon sell more than they did before, while companies using finance effectively generally outperform those who don’t have that sales advantage.”


Visit www.creditsolutionsgroup.co.uk or call 0845 120 6666 to find out more.


To read more news, log onto www.clearview-uk.com and join in our Forum discussions.


DOMESTIC GLAZING MARKET WORTH £3.7BN IN 2011, SAYS PALMER


The domestic glazing market declined by 4% in 2011, but it was still worth £3.7 billion according to the latest report from Palmer Market Research. They also cite some bright spots with market growth in new build housing, new types of bifold patio doors, and not least the growth of energy rated windows.


The report tracks the markets for windows, external doors and conservatories in housing in mainland Britain on an annual basis. For each year markets are reported on in terms of numbers of units installed and their installed value. The main analyses are by sectors and materials but other relevant aspects of the market are also measured for example:


• Energy rated windows


• Window styles and vertical sliding sashes


• Double and triple glazing


• Market structure of the PVC-u window market


• Existing stock of single and double glazed windows


• Styles of conservatories • Orangeries


• Types of patio doors including bifold doors


T » 020 8390 8131 E » info@palmermarketresearch.co.uk


Andy Wallace, Managing Partner, Consumer Credit Solutions.


To read more news, log onto www.clearview-uk.com and join in our Forum discussions.


Clearview NMS « March 2012 « www.clearview-uk.com » 53


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