A
local MEP will this week meet with a leading rent-to-own company to discuss
constituents concerns.
Nikki
Sinclaire, who is one of the elected members of European Parliament for the
West Midlands, has managed to secure a meeting with Commercial Director Hamish
Paton to discuss concerns that constituents have brought to Nikki’s attention.
Nikki
is keen to discuss the company’s practices after a number of constituents have
complained about how the company works.
The
rent-to-buy store claims that it is filling a gap in the market held by
individuals that, according to their Brighthouse Group website, lack access to
mainstream credit or sufficient funds to obtain the goods they need. Rather
than a traditional credit check from an outside agency that many customers
would fail, Brighthouse run their own credit checking facility which includes making
decisions based on meeting the customer instore and using a tailored scorecard
based upon socio-demographic profiles of the customer base.
Brighthouse
supply a number of products, from your basic white goods such as washing
machines and cookers, to the higher end luxury items including 3d televisions
and Nintendo 3DS consoles. With service cover and interest, customers can
expect to pay nearly double the items value with their payment scheme.
Nikki
said, “In times of austerity, rent-to-buy schemes are very attractive to
vulnerable constituents who have nowhere else to turn. My key focus is on
responsible lending. While I understand that Brighthouse is a business, my
constituents are my first concern and I feel it is my duty to explore the
problems they are having with this company”.
Despite
the financial downturn, Brighthouse continue to be on the up with new stores
seemingly popping up all over the country. Nikki’s constituency of the West
Midlands currently has around 30 Brighthouse stores and there are currently 240
Brighthouse stores nationwide. With aggressive expansion planned for over 600
stores, the familiar yellow and red logo will surely be appearing in more West
Midlands locations.
According
to Brighthouse’s own corporate website, the brand has the potential to reach
over 2 million customers in the UK. A typical Brighthouse customer lives within
3 miles of their local store, does not own a car and has a friend or family
member who is also a Brighthouse customer.
Nikki
will take numerous case studies to discuss with Mr Paton, as well as exploring
the companies’ views on what it describes as “ethical lending”.
“Debt
is a form of control as it restricts people from bettering themselves. I’m
hoping this meeting with Brighthouse can make a real difference to those who
are struggling with debt issues in the West Midlands”.
