Is Omni Capital Retail Finance reliable?

Omni Capital Retail Finance takes their compliance responsibilities very seriously and is authorised and regulated by the Financial Conduct Authority, Firm Reference Number: 720279. FCA regulation or authorisation means that you can trust the firm. It ensures that the firm treats all consumers in compliance with the strict criteria laid out by the FCA. The FCA regulation ensures that all firms that fall under their supervision are complying with all the requirements of the Financial Services and Markets Act 2000 (FSMA).

Is Avado regulated by FCA?

Yes, Avado PQ Limited is Authorised and regulated by the Financial Conduct Authority – Firm Reference Number: 718054 Avado is a broker on behalf of Omni Capital Retail Finance only.

What is Omni Capital Retail Finance trading information?

Omni Capital Retail Finance Ltd is registered in England and Wales, Reg No 7232938. Registered address: 10 Norwich Street, London, EC4A 1BD. (Omni)

What is credit scoring?

This is a system that many lenders, including Omni use when deciding about whether to offer monthly instalments. We use the information you provide in your application such as your age, job, and existing financial commitments. Credit checks are also made at credit reference agencies to find out how you have managed credit with other lenders. If you are an existing customer, we’ll check your accounts. These all affect the decision we make.

Will Omni check my credit score?

As a responsible lender we check your credit file to help us assess whether to lend money and offer monthly instalments through Omni.

Do Omni lend to customers with a previous bankruptcy/IVA?

Unfortunately, Omni do not lend to customers who have previously been made bankrupt or have been in an IVA.

What if my credit history is not perfect?

Omni assess all individual applications on a case-by-case basis. If you have had problems repaying loans in the past, please let us know as part of the application process so that we can deal with your application appropriately.

Can I repay my loan early?

You can settle your loan agreement at any time with Omni Capital Retail Finance. Simply write to Omni or call them and they will calculate and send you the settlement figure. Just so you know, your settlement figure and date of settlement are calculated in line with the Consumer Credit Act.

Will I be able to take a payment holiday?

If you struggle to meet full instalments, Omni may be able to offer you a payment holiday based on a change in your individual circumstances. You’ll need to tell them the reason for the holiday. Omni may ask some questions about your finances, to make sure it’s the right option for you. You’ll need to explain how a payment holiday will help you manage repayments, and when you’ll be able to start paying them back again. If a payment holiday isn’t the right option for you, there’s still help available in the form of ‘tailored support’. This will be based on your individual circumstances but could involve things like allowing reduced payments.

Will a payment holiday affect my credit rating?

A payment holiday will usually appear on your credit report and will likely affect your credit score. This can make it harder to take out credit in future. If in doubt, ask Omni Capital Retail Finance how your payment holiday will be shown on your credit report. However, payment holidays that were offered due to Covid-19 (between 17 March 2020 and 31 July 2021) won’t appear on your credit report, and so won’t affect your credit score.

I’m struggling to make the payments. What should I do?

Call us or Omni Capital Retail Finance immediately. We are here to help you. Omni Capital Retail Finance, deal with many different types of customers who sometimes due to no fault of their own struggle with their debts. We will do our best to help if you speak to us. Remember if you’re worried about money, you’re not alone. Free confidential help and advice is available from charities such as StepChangeNational DebtLine and Citizens Advice. They can advise you, and even act on your behalf to help with any debts you might have.

What is an interest rate?

The interest rate is the charge for the credit, on the loan amount.

What does APR stand for?

The Annual Percentage Rate, usually called the APR, is a standard way of showing the cost of borrowing. APRs include all upfront fees spread over the period of the loan, but exclude fees charged when repayments are late, or you miss them altogether. There aren’t any additional costs for finance, so your interest rate is the same as your APR in any communication you receive from Avado or Omni Capital Retail Finance.

What’s the difference between Interest rate and APR?

The interest rate is the charge for the credit, on the loan amount. Again, there aren’t any additional costs for finance, so your interest rate is the same as your APR in any communication you receive from Avado or Omni.

How to make a complaint?

If you are not satisfied with any Avado product or service, we have a complaint handling procedure that you can use to resolve such matters. We always try to resolve any issues with our service as soon as you tell us. If, however, you feel that we have not dealt with your issue as you would expect us to, then in the first instance you can call our call centre and ask to speak to a senior member of the team.  Alternatively, you can write a letter of complaint addressed to our registered office address or by completing this form

How do I change my personal details?

By completing this form

How do I contact my tutor?

All tutoring faculties are available by phone Monday to Friday and over email. If you are a student with the college then you can find this information by logging into your study area on the Virtual Learning Campus or by calling +44 20 3906 7100. The Student Success team are available Monday to Friday 9am-5pm.