WAV Finance

Southern are an old established traditional finance house, who have traded from their Southampton headquarters since 1957, providing facilities to help private and business customers purchase new and used vehicles.

Are they owned by a bank?

Southern are the consumer finance division of R. Raphael & Sons plc, one of the oldest independent banking houses in the United Kingdom, established in 1787.

Is Raphael Bank regulated?

Yes, they are regulated by the Financial Services Authority, like all major banks.

Are Southern regulated?

Yes, as a division of the bank and in addition, they are long standing members of The Finance & Leasing Association and operate within their Lending Code, which can be inspected at www.fla.org.uk

Southern are also members of the Consumer Credit Trade Association, a consumer credit body, formed in 1891.

What products do Southern Finance?

New and used wheelchair adapted vehicles.

What facilities do Southern offer?

Traditional Hire Purchase, where ownership of the vehicle passes to the customer.

Do Southern use a Credit Scoring system to assess the customer’s?

No-each application is considered on an individual basis.

What if I am not in full time employment, retired or receiving Allowances?

You do not need to be in full time employment to apply. Your ability to meet the monthly payments is the most important factor to Southern-they take their role as a responsible lender very seriously and endeavour to structure a financial repayment and term to suit your circumstances.

Do I have to pay a deposit?


Southern try to structure the transaction to suit individual circumstances, so please ask re a deposit when seeking a quotation.

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 private, or corporate applicant.

What happens if my DLA award ceases during the term of the agreement?

Nothing, your finance agreement continues, as normal.

Can my allowance be paid directly to Southern ?

No, Southern collect payments from your bank by Direct Debit Order.

Q; Will I still be eligible to apply if I do not receive DLA ?


Can I settle my finance agreement early ?

Yes. You can either partially, or fully settle the finance agreement at any point.

What happens if my financial affairs are handled by an Appointee (private or corporate) or under a form of Power of Attorney, or Court of Protection arrangement?

Southern can deal with all of these circumstances, without problem.

Is there a limit to the number of individuals will combine on a finance agreement ?

No. Southern have the ability to transact agreements/take into account multiple allowances, so please ask.

How long must I wait for a decision on my finance application ?


Southern will normally confirm their decision within 24 hours of receiving an application.