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Boiler Finance

Who are the lenders?

Omni Capital Retail Finance (‘Omni Capital’) is one of the UK’s leading providers of point-of- sale consumer finance. Working closely with retailers and suppliers nationwide, Omni helps consumers pay for products and services in manageable monthly installments.

Omni operates across a wide range of sectors - from home improvements to field sports and cosmetic surgery – and provides instant, paperless credit decisions instore or online. Omni Capital is a member of the Finance & Leasing Association and is authorised and regulated by the Financial Conduct Authority (Firm Reference Number: 720279).

Some more information about Omni:

  • Secure funding is backed by J.C. Flowers
  • £650m assets are managed by their group
  • Works with retailers such as ao.com, Machine Mart, ebuyer.com, and Dobbies Garden Centres
  • £200m loans are managed by them

Chris Constable
Powerflush Birmingham Ltd

Phil Higgins
Pure Gas 4u

Finance FAQs

Q. Can I see a demo of the App working?

Yes of course If you CLICK HERE this will launch a full demo of the app and give a quick in app tutorial so you can see how easy it is to use.

Q. Who is Phoenix?

Phoenix Financial Consultants are the retailer who carries the FCA licence and will be disbursing the funds to engineers on completion of works.

Q. What is the loan term?

Your customer can choose a loan term of 3, 5 or 7 years.

Q. What is the loan APR?

9.9%

Q. Can I advertise that I offer finance?

Yes you certainly can as long as you are not giving any advice at any point or quoting APR’s. You can advertise for instance "Boiler Finance Available" and run it on all your Adverts, Vans, Flyers, Website, Facebook page anywhere and everywhere really.

Q. My customer has been referred i.e. not instantly accepted. What happens now?

The referral goes directly to an underwriter who will review the application within 9 minutes. Once their decision has been made, you will be notified about whether your customer has been accepted or declined.

Q. Does my customer need proof of ID / bank statements?

Not in the initial stages since we conduct automatic identification checks as part of the application. However, if the application is referred to an underwriter, proof of ID may be requested.

Q. Is there a penalty for repaying early?

No, your customer can repay their loan at any time without incurring any early repayment fees or interest.

Q. Are there maximum and minimum loan amounts?

Your customer can borrow a minimum of £250 up to a maximum of £25,000.

Q. What can the loan cover?

The loan can cover the purchase of your customer’s boiler, all materials and your labour charges.

Q. What boilers can we choose under this scheme?

You can choose any manufacturer, any make and model including Natural Gas, Oil, LPG & Biomass.

Q. Is there a minimum or maximum age for applicants?

Your customer must be 18 years or over. There is no upper age limit.

Q. Can employed, self-employed people and people on benefits apply?

Yes, the applicant just needs to have an income of at least £5,000.

Q. When will my customer’s first loan repayment occur?

30 days after your customer’s application has been completed.

Q. Can my customer change their loan repayment date?

Yes, your customer can change their re-payment date by up to 14 days from the original due date. Please call or email Omni to arrange this.

Q. Who actually receives the finance when the loan has been approved?

Your customer does not receive the money. You (the engineer) will receive the funds that the customer has applied for (minus the 5% admin fee as explained in another FAQ and in the video above). This makes the process safer for all engineers.

Q. As an engineer, when does the money get paid to me?

Payments are made via faster payments every Tuesday or Friday and are made within 72 hours of Phoenix receiving the money from finance house Omni.

Q. What fees do I pay to use this service?

The finance subscription is £100 per year + Vat. You will also need a full Gas App Uk membership at £15 per year. A subscription to Gas App Uk is required at all times to access the finance feature within the app. Finance subscriptions will be taken automatically on every 12 months on the anniversary of your subscription using the payment card that you initially used to sign up to the service. You should ensue that payment details are kept up to date to ensure continuity of your subscription.

For every loan completed, there is also a 5% admin fee deducted from the loan as per the video above.

Q. My customer or I have a complaint. Who should I contact?

If you have a complaint, or any further questions, please contact the scheme’s providers Phoenix Financial Consultants:

Phone – 03300 414857

Email– support@phoenix-fc.co.uk

Q. Can I get a VAT invoice for my finance subscription?

Yes, a full VAT invoice will be raised after your account is live. The invoice is usually available around 10 days after you sign up for the finance subscription.

Q. Can we get finance for customers in Ireland?

Yes we can accept customers whom reside in Northern Ireland.

Q. If my customer is a pensioner and they don’t work can they have the finance option?

That is fine as long as they still have an income of greater than £5k - i.e. there pension is the income.

Q. Can my customer pay a deposit?

Yes, enter the value of the loan and the deposit value. Your customer is, in effect, paying some of the balance for the job then getting the rest on finance.

Q. You mention about splitting invoices?

You can split the invoices or submit one invoice for everything. You may wish to split the invoices if e.g. you are not VAT registered and want some of the loan to go to your merchants to pay for materials.

Q. My customer hasn’t received their satisfaction note?

Simply login to the Member area on this web page, and in here you can resend the satisfaction notes again. Please make sure that they check their junk mail folders.