What information will I need to submit to process a finance application?

As part of the finance application, you'll be required to provide personal information such as name, age, address, occupation and income. Information is then taken from credit reference agencies to determine whether you're accepted for finance.
 

How long will it take for my application to be approved?

A decision is made on almost all finance applications within just 30 seconds. On occasion, a finance application will be referred and you may need to be able to provide more information, such as a copy of a recent utility bill.
 

Who provides consumer finance to Woolroom?

We use Divido as our technological partner for finance. They facilitate the finance agreement, but the lender is Omni capital.
 

Why was my finance application declined/refused?

Though you will not be provided with a main reason for decline of your application, it is usually based on one, or a combination of the following:
  • Eligibility (under 18, not a UK resident, etc);
  • Not enough credit experience (only had their first credit card 6 months ago);
  • Affordability (lenders must follow the lending code to act responsibly);
  • Negative credit file information (Even a parking ticket you are unaware of can end up leaving a default on your credit file).
 

Can I re-apply for finance if my previous application was declined?

You can certainly re-apply for finance, but we'd recommend you wait 6 months as every failed application can be detrimental to your overall credit rating.
 

What items can be purchased using Finance?

You can take advantage of finance on all beds, mattresses, bedding and bedlinen items when spending over £450. We reserve the right to refuse finance on items that are discounted.
 

Can I specify an alternative delivery address?

Due to the nature of finance applications, we can only deliver to the address used when applying (home address).
 

Can I change my order after I've submitted a finance application?

In order to change your order, we'd need to cancel your order and reprocess it as a new application. This can be done successfully with your initial application providing the value of the goods does not increase. Should you wish to upgrade/add to your order then a new application would be needed.
 

If my application is referred, will my goods be allocated to me?

Unfortunately not. Until your finance application has been approved, the goods are not allocated to your order. If the goods you've purchased do become out of stock between filling in your application and it being approved, we'll offer you an alternative or cancel your agreement so you can re-apply.

Should you have any other questions regarding an existing, or new finance application do not hesitate to get in touch via email (info@thewoolroom.com) or by phone: 01780 461220.