Buy now pay later Deferred payment

Spice6315

Advice please....following a sales rep’s visit to my home on the 15 th June, whereby I entered into an agreement to purchase a new conservatory roof on a 12 month buy now pay later arrangement. This was agreed with the lender/bank on the same day by phone which the sales rep arranged. The agreed start date for the works was within 3/4 weeks. However the company did not fit the new roof until 17 th aug and completed on 19 th August., we were pressured to complete a customer acceptance form so the fitters would be paid for the work by the company. I have today received a letter from the lender/bank which was dated the 19 th August stating that our application has been accepted and sets out the terms of the deferred payment. All of which I understand and am accepting of, apart from the start and end date of the 12 months deferment, which they state ends on the 14 th June (which is the day before I applied for the loan). In Essence my complaint is that the loan is now Only 10 months interest free rather than 12 months. This being that the roof was delayed by 2 months. Both the bank and the supplier are blaming each other so do I have any recourse or cause for complaint? Thanks in advance for any responses 

sourcrates

I would expect the recent pandemic would have something to do with the delay.
What does it say on the agreement ?
Have they stated interest will be charged on the last two months ?

Spice6315

Hi thanks for response. All that is stated on the agreement is that the interest free period ends on 14 th June 21 and that if the balance is not paid in full, then the DD will commence from 19 th June 21. I fully appreciate the delay in starting the works albeit the company were less than transparent about this, but we didn’t make a big deal about it as assumed the 12 month interest free period would commence on delivery of the ‘product’ 

jonesMUFCforever

In the circumstances I would accept what is on offer. 
Never 'Assume' anything when it comes to financial services.

Sandtree

Did you have to pay a deposit by another means or is it 100% on this finance agreement?

What were the payment terms if you didnt take their credit option? Pay only on completion or pay on order or a mixture of the two?

Spice6315

we we were asked to pay a 25% deposit which we put on our credit card for protection. So it’s the remaining balance which is on a 12 month buy now pay later (deferred interest). It seems that the money is released from the lender to the supplier on the date of completion as the fitter had me sign a customer acceptance form which he sent across as a photo to his ‘finance’ manager. But the lender’s paperwork states the deferred interest starts from date of acceptance of application rather than works completion date