Plend Financing

How much I can borrow?

You can borrow up to £15,000 in multiples of £500.

What are the rates?

Rates range from 2.99% to 9.99%, dependent on how much you choose to borrow and the overall repayment term, as shown in the table.

Representative Example: Borrowing £8,000 over 48 months at an interest rate of 4.99% p.a.(fixed), you will repay 48 monthly payments of £183.80. Interest Payable £583.65. Total Repayable £8,583.65.

Terms Borrower APR
< £5,000 £5,001 - £10,000 £10,001 +
24 9.99% 7.99% 6.99%
36 7.99% 6.99% 4.99%
48 6.99% 4.99% 3.99%
60 5.99% 3.99% 2.99%

What is the process?

1

Connect to Plend for an open banking check and find out how much you are eligible to borrow.

2

Book a consult call with one of our gurus to understand how a solar system could benefit you, then undertake a remote survey of your property.

3

Notify Plend how much you wish to borrow.

4

3 weeks before install - re-connect to Plend for a second open banking check to confirm your circumstances haven't changed.

5

Two weeks before install - sign your contract with Plend. Invoice will be sent to you and Plend detailing how much Plend will pay at this stage.

6

After install completed - invoice sent to you and Plend for remaining balance of installation cost.

Plant in money

FAQs

Am I eligible for a Plend loan?

If you are 21 or over and have had an active UK bank account with open banking access for a minimum of 3 months, you can apply for a Plend loan. We will do our best to support you, but approval is dependent on several assessment factors after you submit your application.

Who are Plend?

We have partnered with Plend to offer affordable borrowing to MakeMyHouseGreen customers. Plend is a consumer lender which uses open banking technology to provide affordable credit to people across the UK. By connecting with your main bank account Plend is able to get a full picture of your financial situation today, rather than solely relying on outdated credit history.

When do my repayments begin?

Yes, you can borrow part of the cost of your system. We will send you invoices when your payments are due, letting you know how much you need to pay and how much Plend is covering.

Can I borrow part of the cost of my system?

Yes, you can borrow part of the cost of your system. We will send you invoices when your payments are due, letting you know how much you need to pay and how much Plend is covering.

Can I cancel my loan agreement? Is there a cooling off period?

You will have a right to withdraw from the Loan Contract without giving any reason by giving verbal or written notice of the withdrawal within fourteen days from the day you sign the contract. You must repay the whole loan amount (including interest charged to Plend Limited) within thirty (30) days of providing your notice of cancellation, failing which you will be deemed to have changed your mind and will continue your loan term.

What is open banking and how does it work?

Open banking is a banking practice that provides third-party financial service providers open access to consumer banking, transaction, and other financial data from banks and non-bank financial institutions through the use of application programming interfaces (APIs). You are in control and provide us with the access through the use of Plaid. Open banking is designed to be safe and secure, it’s regulated by the FCA and uses bank-level security. With open banking and it’s data, customers are able to receive new offers and products more suited to their financial position right now. Because of this, there are currently over 4.5 million regular open banking users globally.

Is open banking safe?

Open banking has been designed with security at its heart: It uses rigorously tested software and security systems. You’ll never be asked to give access to your bank login details or password to anyone other than your own bank or building society. Only companies regulated by the FCA or European equivalent can use this technology. You choose when, and for how long, you give access to your data. Your bank or building society will pay your money back if fraudulent payments are made. You’re also protected by data protection laws and the Financial Ombudsman Service.

Can I get financing from elsewhere?

Yes, you have a number of other options for financing and we recommend you explore other providers if you will require financing.

How do I contact Plend?

You can get in touch with the Plend team via email at support@plend.co.uk.

What are the risks of borrowing from Plend?

The general risk of borrowing with us is the same as the risk of borrowing from any other provider. You will need to consider if the repayments are affordable for you on a monthly basis. You will also need to ensure you have a plan in place should your financial circumstances change.

Is this a secured or unsecured loan?

This is an unsecured loan. This means you do not need to put up an asset (e.g. your house) to guarantee the loan, which would be at risk of repossession if you fell behind on payments.