How to Offer Finance for Roofing Services

Why Offer Finance for Roofing Services?

Providing financing options empowers your customers to access high-quality roofing solutions without needing to pay the full amount upfront. This approach can help your business:

• Increase average order value
• Convert more leads into customers
• Stand out from competitors
• Foster trust and loyalty

"Offering finance can turn a ‘no’ into a ‘yes’ by making big-ticket projects affordable."

Types of Customer Finance Available

Roofing businesses typically use these main finance models:

• Interest-Free Credit: Customers pay in instalments, interest covered by your business (often over 6-12 months).
• Interest-Bearing Credit: Customers pay interest on the financed amount, often over 12-60 months.
• Buy Now, Pay Later: Delay payments for a set period (e.g. first payment after 3 months).

Each model appeals to different customer needs, so offering several options can increase your reach.

Steps to Start Offering Finance

1. Research FCA Authorisation: In the UK, offering finance usually requires Financial Conduct Authority (FCA) authorisation, unless you only use brokers or lenders with the necessary permissions. Consider working with a specialist broker like Kandoo.
2. Choose a Finance Partner: Partnering with an established finance broker gives you access to vetted lenders, branded application journeys, and compliance expertise.
3. Integrate Finance Into Your Sales Process: Train your staff, update your website, and ensure customers can apply for finance both online and in-person
4. Promote Availability: Feature finance options in all your marketing materials, from quotes to email campaigns.

Key Legal and Compliance Considerations

• FCA authorisation or exemption is vital.
• All compliant finance advertising must be clear, fair, and not misleading.
• Transparent communication of interest rates, fees, and representative examples is a legal requirement.
• Ensure data protection (GDPR) standards are met when processing customer applications.

Table: FCA Authorisation Options

Benefits for Your Customers

• Flexible payment options
• Immediate access to urgent repairs
• Improved home value without the upfront burden
• Ability to choose higher-spec materials or solutions

"Access to finance can be the difference between patching a roof or investing in a complete, long-lasting solution."

Challenges to Consider

• Approval rates vary—credit score requirements may exclude some customers
• Admin burden (mitigated by broker support)
• Compliance complexity

Top Tips for a Smooth Finance Offering

• Be transparent: Provide clear, honest information about finance terms.
• Stay updated: Regularly review your partner agreements and compliance requirements.
• Empower your team: Ongoing training for sales staff keeps them confident and compliant.
• Monitor results: Track uptake and customer feedback to adapt your approach.

Real-World Example

“After introducing finance, we saw a 30% increase in new customers and our average job value grew. Homeowners love the convenience – and so do we!” — A UK Roofing Contractor

Take Action: Get Started With Customer Finance

Ready to boost your roofing business with flexible finance options? Contact a regulated retail finance broker like Kandoo to start offering customer finance safely and easily.

FAQs

1. Do I need FCA approval to offer finance?

• Yes, unless you offer finance via a broker who holds the permissions.

1. What finance options are most popular for roofing?

• Interest-free credit and buy now, pay later are very popular for large projects.

1. Does offering finance cost my business money?

• Some finance types (like interest-free) may involve subsidised rates or fees, but the increased business volume often outweighs the costs.