The home improvement sector is a rapidly growing industry. 2014/15 showed an 18% rise in planning applications, compared to the same period in 2011/12 (source: Barbour ABI). And the market is showing no evidence of slowing down in 2016.
As consumers look to invest in their homes, with sizable improvements such as extensions and conservatories, they require access to reliable financial support. We know that consumers want to spread their payments without re-mortgaging or relying on credit cards, and they need to know that they are dealing with reputable retailers.
The market is growing and the need for finance is clearly there. Paul O’Leary, Partner Director, Ikano Bank “Consumers are investing considerable amounts of money in their home, which they care deeply about, so it’s an important responsibility for both the retailer and lender. Ikano is committed to helping nurture and educate a market to improve on already very good selling practices.”
Ikano have been investing in their offering to the home improvement market over the past year. Through liaising with retail partners and accreditation agencies, they have developed a robust method of vetting, training and compliance support in order to provide individual financing packages to trusted retailers. The result is careful risk management, whilst servicing a wide portfolio of reputable retail partners.
“We’re proud to be seen as an industry leader in providing finance solutions to home improvement retailers. We know that consumers want to improve their homes with confidence that they will receive high quality products and services. Accessing a loan through a retail partner provides an appealing way to finance a large investment, as well as offering peace of mind that they are dealing with a reputable and trusted retailer. Our retail partners are given a powerful sale tool and all of the support and training that they will need. We know that our retail partners are committed to honest and professional practices and they deserve to be supported in growing their businesses. We’re in this for the long run and will continue to support, educate and offer investment to grow this industry”, Paul O’Leary, Partner Director, Ikano Bank.