The consumer protection organisation the Home Insulation & Energy Systems Contractors Scheme (HIES) has negotiated a special arrangement with several major finance companies. This finance facility allows HIES renewables installers to provide home owners with the best point-of-sale credit deals available in the market place.
“It doesn’t matter how good an installer’s sales team is, or how much the customer wants the product, if they are not in a position to buy installers can’t and won’t sell,” explains Tony Pickup, Founder of HIES. “With HIES group finance installers can provide a solution to the problem, satisfy their customers and boost their sales.”
Launched in early 2012, the consumer protection organisation HIES is the sister scheme of the Double Glazing and Conservatory Ombudsman Scheme (DGCOS), both of which are supported by TV’s consumer champion Nick Ross. Homeowners who employ a HIES installer receive deposit protection, an insurance backed guarantee and free dispute resolution including inspection, mediation and legally binding arbitration. HIES members include Apple Solar, First for Solar, T&K Home Improvements and Solar King.
To qualify for the new finance package installers need to have a minimum of £500,000 retail turnover, one year’s accounts and a consumer credit license, in addition to being an accredited HIES member. Installers who qualify will be able to offer their customers fantastic finance products including; buy now pay later, interest free credit and unsecured low rate finance.
Tony Pickup, continues: “The protection HIES offers to lenders was what enabled us to negotiate this unique finance facility. Under Section 75 of the Consumer Credit Act 1974 the finance company is liable for the guarantees if the installer ceases to trade and is not in a position to honour the guarantee. But when the installer is a member of HIES, the responsibility falls with us. HIES protection instils confidence in the customer and the finance company, meaning our members get the best of both worlds. Ultimately membership helps installers sell more.”
HIES can also provide underwritten commercial and domestic insurance backed guarantees for all of the 45 Green Deal measures, meaning that members can provide finance for all accredited products registered under the government scheme.