Who are they?
Raphaels Wheelchair Adapted Vehicle (WAV) Finance provides funding for new and used vehicles through our network of suppliers, all of whom are authorised by the Financial Conduct Authority. Our range of hire purchase schemes cater for vehicles, including cars and motor homes, adapted to transport wheelchairs and users for personal or business use.
We are flexible and personal in our approach, looking at each case individually through our manual underwriting process. If you have a requirement for an adapted vehicle, purchased through one of our fully accredited suppliers, please get in touch with us, whether you are a private individual, business user or represent a group, care home, charity or trust, or you hold appointee status, Power of Attorney or are acting under Court of Protection authority.
Operating in this specific sector since 2006, originally as Southern Finance, we have long-standing, working relationships with the majority of manufacturers and suppliers of new and used wheelchair adapted vehicles throughout the UK, including Northern Ireland.
Are they owned by a bank?
Raphaels Bank traces its roots back to 1787 and is one of the oldest independent banks in the UK. Today we operate as a dynamic, niche savings and lending bank with a portfolio of ATMs and a well-established payment services division.
What standards do they operate to?
Raphaels Bank is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, and qualifying clients have the protection offered by the Financial Services Compensation Scheme and the Financial Ombudsman Service. The Bank is also a member of both MasterCard and VISA, and the LINK interchange network.
What products do Raphaels Finance support?
New or used wheelchair adapted vehicles, cars.
What facilities do Raphaels offer?
Traditional Hire Purchase, Lease Purchase(HP with a final balloon payment) Lease and Personal Loan.
Will I own the goods at the end of the finance agreement?
Yes in all cases except a Leasing agreement.
Would I pass their credit scoring?
Raphaels do not credit score-each application is considered on an individual basis. We pride ourselves on manual underwriting for our loans, this means we do not use electronic scorecards but offer a truly personal service, treating customers individually on the merits of their financial capabilities.
What if I am not in full time employment or retired?
You do not need to be in full time employment to apply. Your ability to meet the monthly payment from income such as allowances or pension is the most important factor for Raphaels-we take their role as a responsible lenders very seriously and will endeavour to structure a financial repayment and term to suit your circumstances.
Do I have to pay a deposit?
Not in all cases-Raphaels try to structure the transaction to suit individual circumstances and a deposit is not always necessary.
What periods can I repay over?
Between 12 and 60 months.
What are the minimum and maximum amounts I can borrow?
Minimum £1000 and there is no maximum amount-this will be linked to the profile of the individual or corporate applicant, including Charities.
Can Raphaels incorporate the VAT Zero Rating into their finance agreements?
Yes-not a problem. Should you have any doubts regarding your eligibility, visit HM Customs and Excise website, available under www.hmce.gov.uk and then Notice 701/59,headed Motor Vehicles For Disabled People.
Can my allowances be paid directly to Raphaels?
No-Raphaels collect monthly payments from your bank/building society by direct debit.
Can I settle my finance agreement early?
Yes-simply contact us to request a settlement figure.
What happens if I have an Appointee, private or corporate, handling my financial affairs?
Raphaels are happy to deal via an Appointee-the finance agreement would be in the individuals name and there would be no financial information recorded against the Appointee on their personal credit file.
Is there a limit to the number of people receiving allowances that Raphaels will include on a finance agreement?
No-speak to us about your circumstances.
Do Raphaels provide finance to every applicant?
We cannot meet every applicants needs and will maintain our obligations to be a responsible and ethical lender.
How long must I wait for a decision on my finance application?
Raphaels will normally confirm their decision within a maximum 24 hours of receiving an application.
How do I obtain a finance quotation?
Contact Raphaels on 023 8021 5733