Interest Free Credit

We have partnered with V12 Retail Finance to be able to offer our customers simple, trustworthy finance to help fund their dream piece of jewellery.

We want to help you find your perfect piece of Jewellery and ensure that your purchase experience is as relaxed as possible, so we have partnered with V12 Retail Finance to provide a simple, flexible and trustworthy finance programme to suit you. V12 Retail Finance gives you the flexibility to spread your repayments over a period that suits your budget, allowing you the freedom to buy what you really want now, not just what you can afford to pay today.  

Finance Available

Finance is available on all purchases for 6, 12, 24, and 36-month terms. The finance example is based on a £2000 purchase with a deposit of £1000.

OPTIONS AVAILABLE

Subject to availability, the products we offer are:

• 6 months Interest Free Credit
• 12 month Interest Bearing Credit at 9.9% APR representative
• 24 month Interest Bearing Credit at 15.9% APR representative
• 36 month Interest Bearing Credit at 15.9% APR representative

PRODUCT INFORMATION

6 Months Interest-Free Credit

• Available on orders between £1500 and £15000
• This is an interest-free loan with no arrangement fees
• You repay the loan amount through equal monthly payments spread over the chosen repayment period
• The deposit must be 50% of the purchase price

12/24/36 Months Interest Bearing Credit

• Available on orders between £500 and £30,000
• This is an interest-bearing loan with interest charged at the given APR, there are no additional arrangement fees
• You repay the loan amount and total interest spread equally over the chosen repayment period
• The deposit must be between 10% and 50% of the purchase price

ELIGIBILITY CRITERIA

You must:

• Is 18 or older
• Is in permanent paid employment, self-employed, homemaker, retired and receiving a pension, working student in part-time work or in receipt of a disability benefit
• Has been a resident in the UK for at least 3 years
• Has a debit or credit card in their name, which is registered to their address, to pay the deposit where applicable
• Has a Bank or Building Society current account available – this is required to complete the direct debit instruction
• Has an email address to receive the important information throughout the application process, including their signed credit agreement

APPLYING FOR FINANCE

Online:

1. Select the products you wish to finance and choose ‘Finance’ during checkout
2. Complete the lender’s online application form and wait 10 - 20 seconds for the credit decision
3. Once approved*, we’ll deliver the goods to your home address

In-Store:

1. Visit our store and ask about the finance options available to you
2. We’ll help you complete the lender’s online application form
3. Once approved*, we’ll deliver the goods to your home address

Mail Order (Telephone):

1. Call us on 0203 7733 511 to place an order. If your order qualifies for finance, we’ll talk you through your options
2. We will email you a link to the lender’s online application to complete from the comfort of your own home
3. Once approved*, we’ll deliver the goods to your home address

*Subject to affordability, age and status. Minimum spend applies. You must agree to the lender’s Terms and Conditions and electronically sign the Credit Agreement document before we can send the goods to you.

INFORMATION REQUIRED

During the loan application process, you will be asked for your personal information such as name, 3-year address history, date of birth, email and telephone contact details and employment/income information. If you are accepted you will also need a credit or debit card registered to you at your address on the credit application so that the lender can carry out an electronic identity check.

PROCESSING TIME

With most applications, we expect that you will be given an acceptance or decline decision within 10-20 seconds. In some cases, the lender may return the decision as ‘referred’. You will then receive an email with further instructions once the underwriters have made a decision. For in-store applications, you can usually wait in the shop whilst the underwriters review your application. Underwriting hours are between 8am and 8pm, Monday to Friday (excluding Bank holidays), 9am and 6pm on Saturday, and 10am and 5pm on Sunday. If your application is referred outside of these hours then you may have to wait until the next working day for the decision.

DELIVERY

For finance orders made online or via mail order we are only able to deliver the goods to the address on your credit agreement (your home address). You will not be able to have the goods shipped to another address or collect the goods from us in person.

RETURNS & CANCELLATION PROCEDURE

If you wish to return the order, then please refer to our returns policy. If we accept your return, we will contact the lender to cancel the credit agreement. We may not be able to cancel the finance if the return falls outside of our returns period. 

14 days:
Under the Consumer Contracts Regulations 2013, a customer may return an item if they simply change their mind. A customer has the right to cancel at any time from the moment they place their online or mail order until 14 days after they receive the goods. The customer then has a further 14 days from the date they notify the retailer of their cancellation to return the goods. There are exemptions to online returns, which include tailor-made/personalised goods.

30 days right to reject:
Under the Consumer Rights Act you have a legal right to reject goods that are of unsatisfactory quality, unfit for purpose or not as described, and get a full refund - as long as you do this quickly. This right is limited to 30 days from the date you receive your product.

If you are not entirely happy with your recent experience, please raise a complaint by contacting our Sales Team on 0203 7733 511. We aim to resolve your complaint as quickly as possible and if we are able to resolve your complaint within 14 days, we will send you a final response detailing our resolution. If we are unable to provide you with a final response at 14 days, we will send you an email explaining the reason for delay and when we expect to issue you with a final response.

If you are dissatisfied with our response and your agreement is regulated by the Financial Conduct Authority, you have the right to refer your complaint to the Financial Ombudsman Service, free of charge, but you must do so within six months of the date of the final response or 8 week holding letter. Further information and contact details can be found on www.financial-ombudsman.org.uk.

DECLINED CREDIT APPLICATIONS

You will be informed of the decision if the lender declines your application, the lender is unable to share the reason for the decline with us. Applications are usually declined for reasons such as:

• you do not meet the eligibility criteria (see above);
• adverse credit reference agency information;
• your credit score;
• you are considered to be over-committed; or
• your existing account performance with other lenders.

The lender will give you the contact details for the credit reference agency used. They will also give you information on how to appeal the decision if you wish to discuss the matter. Please note that the lender is unable to discuss this over the telephone due to Data Protection rules. You should also note that each lender applies its own credit score to applicants so if you have recently been accepted for credit elsewhere this does not necessarily mean that appealing the decision on this basis alone will result in a change of decision.

THE LENDER

Gems4less Limited trading as Quality Diamonds is authorised and regulated by the Financial Conduct Authority and is the broker and not the lender. Our FCA registration number is 670474. Gems4less Limited offers credit products from Secure Trust Bank PLC trading as V12 Retail Finance. Credit is provided subject to affordability, age and status. Minimum spend applies.

Secure Trust Bank is registered in England and Wales 541132. Registered office: One Arleston Way, Solihull, B90 4LH. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registration number: 204550.

Gems4less Limited is registered in England and Wales 04930687. Registered office: First Floor 2 Copperhouse Court, Caldecotte, Milton Keynes MK7 8NL.