Finance Benefits & Risks FAQ

This FAQ explains the benefits and risks of using finance to pay for a Training Beauty & Beyond course.

It is designed to help you make an informed decision before applying for finance. It does not replace the information provided by the lender. You should always read the lender’s credit agreement carefully before signing.

Training Beauty & Beyond does not provide financial advice. We do not recommend finance, and we do not recommend one payment option over another. Finance is simply one payment route available to customers who wish to apply.

1. Do I have to use finance to enrol?

No. Finance is optional. You can choose the payment route that feels right for you.

This may include:

1. Paying in full
2. Using an available finance option
3. Choosing not to proceed if the payment commitment does not feel right for you at this time

Our team will explain the course, the enrolment process, and the payment routes available. We will not pressure you to use finance.

2. What is finance?

Finance means borrowing money from a lender to pay for your course.

If approved, the lender pays the course fee to Training Beauty & Beyond on your behalf. You then repay the lender over the agreed term.

This means your agreement is with the lender, not Training Beauty & Beyond. You must make the repayments directly to the lender under the terms of your credit agreement.

3. Who decides whether I am accepted for finance?

The lender decides whether to accept your application.

Training Beauty & Beyond does not make lending decisions. We do not carry out affordability checks or creditworthiness assessments.

The lender will assess your application based on its own criteria. This may include your credit history, income, affordability, existing financial commitments, and other information requested during the application.

4. Is finance suitable for everyone?

No. Finance is only suitable if you are confident you can afford the repayments for the full term of the agreement.

Before applying, you should think carefully about:

1. Your monthly income
2. Your essential bills
3. Your existing debts or credit commitments
4. Whether your income may change
5. Whether the monthly repayment still feels affordable if unexpected costs arise

If you are unsure, you should take more time before applying or speak directly to the lender.

5. What are the benefits of using finance?

Finance may help some customers access training sooner by spreading the cost over monthly payments.

Possible benefits include:

1. You may be able to enrol without paying the full course fee upfront
2. Monthly payments may be easier to manage than one larger payment
3. Some finance options may offer interest free terms
4. The lender must provide clear credit terms before you sign
5. You may be able to repay early, depending on the lender’s terms

Finance can be helpful for customers who want to start training now and are comfortable with the monthly repayment commitment.

6. What are the risks of using finance?

Finance is a serious financial commitment.

The main risks are:

1. You must make repayments on time
2. Missed or late payments may affect your credit file
3. Borrowing more than you can afford may cause financial difficulty
4. You may pay more overall if the agreement includes interest
5. Your repayment obligation may continue even if you do not complete the course
6. taking credit may affect your ability to borrow elsewhere in the future

You should only apply if you are comfortable with the repayments and understand the full cost.

7. Will finance affect my credit file?

It can. Applying for finance may involve a credit check. The lender will explain what type of check it carries out.

If you are accepted and enter into a finance agreement, the lender may report the agreement and repayment history to credit reference agencies.

Paying on time may help show that you manage credit responsibly. Missing payments may negatively affect your credit file and your ability to borrow in future.

8. What does interest free mean?

Interest free means the lender does not charge interest on the amount borrowed, provided you keep to the terms of the agreement.

For example, if you borrow £1,000 on an interest free agreement, the total repayable should usually be £1,000, unless you miss payments or breach the lender’s terms.

You should always check the credit agreement before signing, as the lender’s terms will confirm exactly what you must repay.

9. What does APR mean?

APR means annual percentage rate.

It helps show the yearly cost of borrowing, including interest and certain charges.

If a finance option has an APR above 0 percent, the total amount you repay will usually be higher than the course price. You should check:

1. The amount borrowed
2. The monthly payment
3. The term
4. The APR
5. The total amount repayable

The total amount repayable is especially important because it shows the overall cost of the finance.

10. Will Training Beauty & Beyond charge me a fee for using finance?

No. Training Beauty & Beyond does not charge customers a fee for applying for finance.

Training Beauty & Beyond does not receive commission for credit broking.

Where finance is used, the lender may deduct a merchant fee before paying the funded amount to Training Beauty & Beyond. This is a cost to Training Beauty & Beyond and does not change the course price you are shown.

11. Does Training Beauty & Beyond recommend which finance option I should choose?

No. We do not provide financial advice and we do not recommend a particular finance option.

Our role is to explain the course, the enrolment process, and the available payment routes. If you have finance specific questions about affordability, credit checks, repayment terms, missed payments, or your credit agreement, you should speak directly to the lender.

12. What information should I check before applying?

Before applying for finance, you should check:

1. The course price
2. The amount you are borrowing
3. The monthly repayment
4. The repayment term
5. The APR, if applicable
6. The total amount repayable
7. Whether repayments remain due if you do not complete the course
8. What happens if you miss a payment
9. Whether you can repay early
10. Who to contact if your financial circumstances change

Take your time. Do not apply until you feel comfortable.

13. What happens if I do not complete the course?

If you do not complete the course, your finance agreement will usually remain in place.

This means you must continue making repayments to the lender unless the lender tells you otherwise.

Your finance agreement is separate from your course enrolment. The lender funds the course fee upfront, and you repay the lender under the credit agreement.

If you are struggling with the course, contact Training Beauty & Beyond as soon as possible so we can discuss support options.

If you are struggling with repayments, contact the lender as soon as possible.

14. Can I repay my finance early?

This depends on the lender and the terms of your agreement.

Many finance agreements allow early repayment in full or in part. The lender’s credit agreement will explain your rights and whether any charges apply.

If you are considering early repayment, contact the lender directly.

15. What happens if my financial circumstances change?

If your financial circumstances change, contact the lender as soon as possible.

Examples may include:

1. Loss of income
2. Reduced working hours
3. Unexpected bills
4. Illness
5. difficulty making repayments

Do not ignore the situation. Lenders may be able to explain what support options are available.

You can also contact Training Beauty & Beyond if your circumstances affect your ability to study, and we will do what we reasonably can to support your learning journey.

16. What if I have a disability, impairment, health condition, or other support need?

Please tell us if there is anything that may affect your ability to study, understand information, communicate with us, or complete your course.

This may include:

1. A disability
2. A long term medical condition
3. A mental health condition
4. A learning difficulty
5. Caring responsibilities
6. Temporary personal circumstances that may affect your ability to study

We will do our best to provide information in a clear way and support you through the course journey.

If your support need relates to the finance agreement itself, we may direct you to the lender, as they are responsible for the credit agreement.

17. What if I do not understand the finance information?

Please do not proceed until you understand it.

You can:

1. Take more time to read the information
2. Ask Training Beauty & Beyond questions about the course or enrolment process
3. Contact the lender about finance specific questions
4. Ask someone you trust to help you review the information
5. Choose not to apply for finance

It is important that you understand the commitment before entering into any credit agreement.

18. What if I am declined for finance?

If you are declined, the lender may not always give Training Beauty & Beyond the reason.

You can contact the lender directly if you want more information.

Being declined does not mean you cannot enrol, but it may mean you need to consider another payment route or wait until a later date.

You should not apply for multiple finance products without thinking carefully, as repeated applications may affect your credit file.

19. Can finance guarantee I will earn money after the course?

No. A course can help you develop skills, gain confidence, and work towards a new career, but future earnings are not guaranteed.

Your results may depend on:

1. Your effort and practice
2. The time you invest
3. Your local market
4. Your ability to attract clients
5. Your confidence and business activity
6. Whether you complete the course successfully

Finance should not be taken based on an assumption that you will earn a certain amount after completing the course.

20. Will repayments change if I earn more or less after the course?

No. Your repayments are set by the finance agreement. They do not automatically change based on your future income, whether you complete the course, or whether you start earning from your new skills.

You should only proceed if the repayments are affordable based on your current circumstances.

21. What if I change my mind after signing a finance agreement?

Your lender will explain any cancellation or withdrawal rights in your credit agreement.

If you change your mind, contact the lender and Training Beauty & Beyond as soon as possible.

You should read both:

1. The lender’s credit agreement
2. Training Beauty & Beyond’s enrolment terms

These are separate documents and may have different rules.

22. Who do I contact if I have a complaint?

If your complaint is about the course, training, tutor support, kit, or enrolment process, contact Training Beauty & Beyond.

If your complaint is about the finance agreement, credit checks, repayments, missed payments, or lender conduct, you should contact the lender.

If you are unsure who to contact, speak to us and we will help direct you to the right place.

23. What if I am struggling with repayments?

Contact the lender immediately.

The lender is responsible for your finance agreement and can explain what support may be available.

You should also tell Training Beauty & Beyond if your circumstances affect your ability to continue studying. We cannot change your finance agreement, but we may be able to support your learning journey.

24. How does Training Beauty & Beyond make sure finance is presented fairly?

We aim to ensure finance is presented clearly and without pressure.

Our approach includes:

1. Finance is presented as an option, not a recommendation
2. Customers are free to choose their preferred payment route
3. We do not charge customers a finance fee
4. We do not receive commission for credit broking
5. Lender specific questions are referred to the lender
6. Staff are trained not to pressure customers into finance
7. Customer communications and payment routes are recorded in our CRM
8. Customer feedback and complaints are monitored
9. Information is reviewed and updated where needed
   
   

25. What should I do before deciding?

Before deciding, ask yourself:

1. Do I understand the total cost?
2. Do I understand the monthly repayment?
3. Do I understand how long I will be paying for?
4. Can I afford the repayments comfortably?
5. Could I still afford them if my circumstances changed?
6. Do I understand that repayments may continue if I do not complete the course?
7. Have I read the lender’s agreement?
8. Have I taken enough time to decide?

If the answer to any of these is no, pause before applying.

26. Key reminder

Finance can be a helpful way to spread the cost of training, but it is still borrowing.

Only apply if you understand the agreement, are comfortable with the repayments, and have considered whether it is right for your circumstances.

TB&B.