Please click the continue button below to apply for our finance scheme
There will be a panel of lenders so your customer has a higher chance of obtaining a loan.
However, Phoenix Financial Consultants remains the FCA authorised credit broker and those of you who are authorised to access finance will still need to be Introducer Appointed Representatives (IARs) of Phoenix.
Finance FAQs for engineers provided by Phoenix Financial Consultants Limited
Phoenix Financial Consultants Limited is the FCA authorised credit broker (Register No. 539195) and approves engineers to be Introducer Appointed Representatives (IAR).
Your customer can choose a loan term of 3, 5, 8 and 10 years.
The customer will complete a short application process to determine if the loan is affordable for the customer. The lender's decision is final and cannot be influenced by Phoenix.
The Representative APR is 9.9%.
Yes. However, as you are acting as an introducer only you must not quote any details of the loan (like the APR) or give any advice to the customer. All the details of the loan option are provided on the customer’s boiler quote.
You can advertise for instance "Boiler Finance Available" “Finance Available” and run it on all your Adverts, Vans, Flyers, Website, Facebook page anywhere and everywhere really.
You don’t need to do anything as the lender will review the customer's application manually and contact the customer directly. You will be notified of the decision on GasApp so you can confirm the installation date with the customer.
In general no. However, in a small number of cases the lender may request a pay slip or a bank statement from the customer to verify income. If this is required the lender will contact the customer directly.
The customer can apply to borrow a minimum of £500 up to a maximum of £15,000.
Yes, the loan can cover the cost of large-scale repairs on boilers and heating systems and include the cost of flushing heating systems. Please note that only repairs costing more than £500 are eligible for the finance scheme.
The entire price of the job can be financed, i.e. the cost of the customer's boiler, all other materials, your labour charges and VAT.
There is no restriction on the type of boiler or manufacturer.
Your customer must be 18 years or over. There is no upper age limit.
- Employed, self employed and retired individuals (subject to a minimum income of £5,000);
- House persons (provided the partner has income over is £5,000);
- Individuals on certain benefits, i.e. working families tax credit and disability allowance.
In general, the first payment is taken within one month of the installation of the boiler and completion of the satisfaction note.
Yes, full details of how to do this are contained in the customer’s loan agreement.
The funds are paid from the lender to the credit broker, Phoenix. The customer does not receive the money. The engineer will receive the funds from Phoenix (less the 4% fee payable to access the scheme) once the customer satisfaction note has been submitted.
Payments are made via faster payments every Tuesday or Friday and are made within 72 hours of Phoenix receiving the money from the lender.
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 need to be manually renewed every 12 months on the anniversary of your subscription, an email will be sent to you as a reminder.
For every loan completed, there is also a 4% admin fee deducted from the funds as per the video above.
These details are provided to the customer as part of the loan application process.
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.
Yes they can - but it is not compulsory for the customer to pay a deposit.
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.
A satisfaction note needs to be signed by the customer upon completion of the job to say they are satisfied with the work you have completed in order for you to get paid. There is a tab in the ‘QUOTES’ section of the App itself where you will find the satisfaction note. Simply complete the customer details and ask them to sign the screen and click submit. This is sent to Phoenix who will authorise the disbursement of funds to you.
No - the scheme is open to all Gas Safe engineers. You will need to be appointed as an Introducer of the credit broker Phoenix and there is a short application process for this.