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Loan Repayment

When will my first payment be made?

This will normally be around 30 days from the date of your purchase, but you will receive a welcome email from Omni Capital Retail Finance providing details of your repayment schedule.

Can I change my monthly payment due date?

Yes, this can be arranged once you have received your welcome email. Contact Omni Capital Retail Finance directly on 0333 240 8317 to do this.

Can I pay off the loan early? (i.e. before the 9 or 18 months have passed)

Yes, you can pay the balance of your Take it away loan early and there will be no penalty charge for this. Please call Omni Capital Retail Finance directly on 0333 240 8317 to arrange this.

Can I cancel my Take it away loan?

If you wish to exercise your right to withdraw from the finance agreement, you must contact Omni Capital Retail Finance within 14 days of signing the agreement. You will need to arrange an alternative payment method for the instrument with Omni Capital Retail Finance within 30 days.

Can I use the scheme more than once?

Yes, there is no limit on the number of times that you can use the scheme. You can have different loans running concurrently, although you would need to pass a separate credit check for each new application. We would advise you to allow at least 3 months between loan applications in order to establish a repayment record with Omni Capital Retail Finance.

How can I check how many more payments I need to make?

If you have any questions about your repayment schedule, please call Omni Capital Retail Finance on 0333 240 8317.

What happens if my application for a Take it away loan is declined?

The shop where you’ve applied for the loan will provide you with a letter containing details about what to do next.

Applying for a Take it away loan

How do I use the scheme to buy an instrument?

Find a local retailer and ask them if they offer the Take it away scheme.

Please note that in England, some retailers just offer our core interest free loan scheme to under 26s. If they only offer the core scheme, you will need to be:

  • Either an individual aged between 18 and 25 years of age using the scheme to buy an instrument for themselves (or someone else, e.g. as a gift)
  • Or an individual over 18 buying an instrument for a child under the age of 18
  • In both cases, all applicants also need to be a UK resident and have a regular income that exceeds £5,000 per year

Can I use the scheme if I'm over 25?

Yes. Some participating stores, in England, offer interest free credit outside of the core scheme, to eligible customers aged 18 and above.

In Northern Ireland, the scheme is open to all.

Can I use the scheme online or via mail order?

Yes if that’s a service the retailer offers.

For online orders, it will depend on whether they have that ability built into their website.

For mail order, you will need to provide the details over the phone to the music retailer as you would do if you were in-store. If you are approved, the retailer will post you the relevant documents to sign and return, and explain the procedure to you. You must also complete the customer survey or customer declaration. You will need to pay your 10% deposit by credit or debit card.

What do I need with me when applying for a Take it away loan in-store?

If you’re using the scheme in a store and paying the 10% deposit by credit or debit card, you won’t need additional ID.

 

However, if you are paying the 10% deposit by cash or cheque, then you will need to provide 2 forms of ID.

 

Acceptable proofs of ID are:

 

  • Current UK driving licence;
  • Valid Passport;
  • Utility bill, credit card or bank statement dated within the last 3 months will be accepted as a second proof with one of the above.
  • NB – Mobile phone bills are not acceptable.

What do I need to have when applying for a loan via mail-order?

If you are using the scheme via mail order, you must provide 1 form of ID from the following list:

 

  • Current UK driving licence (both card and counterfoil for new style licences);
  • Valid Passport.

Or, two forms of ID from the following list:

 

  • Pension statement for the current tax year;
  • HMRC Notification/Notice of Tax Coding;
  • Benefits Letter for the current tax year;
  • Utility bill, credit card or bank statement dated within the last 3 months will be accepted as a second proof with one of the above.
  • NB – Mobile phone bills are not acceptable.

Customer eligibility criteria

Can I use the scheme if I am unemployed?

Unfortunately, we are unable to accept applications from people who are unemployed and in receipt of state benefits (apart from Disability Benefit).

Can I use the scheme if I am a student?

Students are eligible to apply, provided that they have a part-time job working and have a regular income that exceeds £5,000 per year.

Can I use the scheme to buy instruments for other people?

In England, eligible customers over the age of 18 can buy an instrument for a child and if you are between the ages of 18 and 25, you can buy an instrument for other people of any age (e.g. as a gift).  If you are over the age of 25 and wish to buy an instrument for another person, please ask for your local shop for more details.

In Northern Ireland, eligible customers over the age of 18 can buy an instrument for other people of any age.

Please note  that you will remain responsible for repaying the full loan amount to the bank and that the loan is not transferable to a third party.

Qualifying items

Can I buy something worth more than top amount for the scheme?

Yes. The Take it away loan can be used a part-payment towards an instrument if the total cost exceeds the amount that you are permitted to borrow in store. You would have to arrange to pay the difference by another means (e.g. by paying a larger deposit).  However, you cannot use multiple loans to cover the cost of an instrument which costs more than £5000 in England, £2000 in Northern Ireland, or more than £25,000 at selected retailers.

Can I use Take it away to purchase a second-hand or reconditioned instrument?

Yes, provided that the instrument is being sold through an approved Take it away retailer.

Can I use the scheme to pay for tuition?

This will depend on the services available through the shop in which you are making your purchase. If the store offers a block of lessons these can be added to your loan as an additional service. Please ask for details when making your purchase.

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