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4Com's Finance Agreement Trap: Propel, BNP and the Equipment Lease

4Com's Finance Agreement Trap: Propel, BNP and the Equipment Lease

"At No Point Was I Told About the Finance Agreement"

That is a near-direct quote from a 1-star review on uk.trustpilot.com/review/4com.co.uk. Variants of it appear over and over across 1-star reviews. Customers describe signing what they thought was a single telecoms contract with 4Com and later discovering — sometimes years later — that a separate finance agreement with a third-party company was sitting underneath the whole deal.

The finance companies most commonly named by reviewers are Propel Finance and BNP Paribas Leasing Solutions. Both are legitimate, well-established UK asset-finance companies. They do nothing wrong by providing asset finance to businesses. The issue, according to the reviews, is that their involvement is not always clearly explained at the point of sale.

We are Compare The Networks, an independent, OFCOM-regulated business telecoms comparison service. We have been helping UK businesses since 2008 and we have no affiliation with 4Com, Propel or BNP. This article explains how the finance agreement layer works in 4Com deals, why it causes problems, and what your options are if you find yourself in one.

How the Finance Agreement Layer Works

When you sign a 4Com deal that includes Hihi handsets or VoIP hardware, what looks like one transaction is usually two.

The Telecoms Side

4Com supplies you with the telecoms service: call minutes, broadband, VoIP, support, account management. You pay 4Com a monthly service fee. The service agreement is commonly 24 or 36 months.

The Finance Side

Rather than selling you the hardware outright, 4Com's arrangement is typically that a finance company buys the equipment and leases it to you. The finance company is the legal owner of the kit. You are the lessee. You pay the finance company — not 4Com — a monthly lease rental.

The finance agreement is commonly 60 or 84 months (5 or 7 years).

This is standard asset-finance structure. What Trustpilot reviewers describe as the problem is that it is not always made obvious.

Why Customers Don't Know They Signed It

From the 1-star reviews on uk.trustpilot.com/review/4com.co.uk, the recurring themes on finance agreement concealment are:

  • The finance agreement is a separate document presented as part of a pack of e-signature documents.
  • During the sales call, the overall deal is framed as "your 4Com contract" — not as a telecoms contract plus a finance agreement with a different company.
  • The term length (5 or 7 years) sits inside the finance document, not the service contract.
  • Same-day signing leaves no time to read the full pack. See our 4Com sales tactics article and 4Com no cooling-off period article.
  • The customer typically sets up Direct Debits at signing — and does not always notice there are two separate DD mandates, one to 4Com and one to the finance company.
  • First bills appear and the two separate charges are interpreted as "4Com billing" without the customer realising one of them is the finance company.

Reviewers describe discovering the separate finance agreement only when they:

  • Try to leave early and are quoted an exit figure that makes no sense against a "24-month contract".
  • Approach what they think is the end of their deal and are told 5 more years remain on the lease.
  • See a finance-company letter arrive and initially think it is a scam.

Propel Finance and BNP Paribas: Who They Are

Propel Finance is a UK-based asset finance company. They fund equipment for businesses across multiple industries — telecoms, office tech, vehicles, plant and machinery. They are regulated in the UK and operate in the standard way for an asset finance company. Their involvement in 4Com deals is not improper — it is how many telecoms resellers finance the hardware they supply.

BNP Paribas Leasing Solutions is the leasing arm of BNP Paribas, the French multinational bank. They also fund business equipment across multiple industries. Again, their involvement in a 4Com deal is not improper in itself.

The important thing for you as a customer: once you have signed, Propel or BNP is a separate legal counterparty to 4Com. What 4Com says does not bind them. If 4Com agrees to cancel your service, the finance agreement continues independently unless the finance company itself agrees to release you.

Why This Matters for Early Termination

This is where the finance layer becomes financially painful.

When you try to leave, the exit figure you receive is a combination of:

  • Unexpired service months × monthly service rate (the 4Com side)
  • Unexpired lease months × monthly lease × number of handsets (the finance-company side)
  • VAT and any admin/early-settlement charges

On a 6-handset deal with 5 years left on the lease, the finance-company remainder alone can be £15k+. That is what drives the £27,000-£28,000 exit quotes Trustpilot reviewers publicly report. See our 4Com early termination fee article for the full maths.

Critically, even if you win a misselling claim against 4Com, the finance company is a separate entity and the resolution has to include them too. That is why any CISAS complaint or formal resolution needs to be explicit about both agreements. See 4Com misselling and 4Com complaints CISAS.

What to Check If You Think You Might Be on a Finance Agreement

If you are a 4Com customer and are not sure whether a finance agreement is part of your deal, do this:

1. Check Your Direct Debits

Open your online banking. Look at the last month. You are looking for:

  • A Direct Debit to 4Com (or a company name associated with them)
  • A separate Direct Debit to Propel Finance, BNP Paribas, or similarly named finance company

If you see two, you are almost certainly on a finance agreement.

2. Check Your Original Paperwork

Dig out the e-signature bundle. Look for:

  • A "Hire Agreement", "Lease Agreement", or "Finance Agreement"
  • The name of the lessor — Propel, BNP, Lombard, or similar
  • The term length (typically 60 or 84 months)
  • The monthly rental amount
  • A separate Direct Debit mandate

3. Request in Writing

Email 4Com and ask, in writing:

  • "Is there a separate finance or lease agreement on my account? If yes, with whom, for what term, and for what monthly amount?"
  • "Please send me the full signed finance agreement in PDF."

Do the same to the finance company if you have their details.

Do this in writing, not over the phone. You want a paper trail.

Your Options If You're Stuck in a Finance Agreement

Option 1: Ride It Out

If you can live with the service and the combined monthly cost is manageable, the simplest path is to ride it out to the end of the lease. Do not sign any new 7-year agreement to "get a discount" — that resets the clock. See our 4Com contract problems article.

Option 2: Pay to Leave

Get the written exit quote from both 4Com and the finance company. Compare against the cost of an honest alternative. If the total remaining cost of staying exceeds the exit quote plus a new contract, leaving is mathematically rational. See 4Com early termination fee.

Option 3: Misselling Complaint via CISAS

If the finance agreement was not clearly disclosed at the point of sale, you have a potential misselling complaint. Process:

  1. Complain to 4Com in writing, specifically referencing the finance agreement.
  2. Complain to the finance company in writing — they have their own complaints process and may be a member of the Financial Ombudsman Service (for consumer finance) or Business Banking Resolution Service.
  3. Wait 8 weeks or get deadlock letters.
  4. Escalate 4Com side to CISAS. The finance side may route to the Financial Ombudsman Service separately.
  5. Keep everything in writing. Never accept a verbal resolution.

Our 4Com misselling article has the full process.

Option 4: Section 75 / Consumer Credit Act Review

If any of the finance was regulated under the Consumer Credit Act 1974 (for sole traders, this is possible below certain thresholds), you may have additional rights. This is a question for a solicitor or Citizens Advice Business Debtline.

How to Protect Yourself in Future

Whether you are considering 4Com, a competitor, or us — before you sign any business telecoms deal:

  1. Ask bluntly: "Is there a separate finance or lease agreement in this deal?" Get the answer in writing.
  2. Ask: "Who is the finance company?" Any name that is not the telecoms provider itself is a separate legal counterparty.
  3. Ask: "What is the term of each agreement?" Not just "the contract" — every agreement.
  4. Ask for all documents by email at least 48 hours before signing. A legitimate deal survives a 48-hour read.
  5. Check your bank feed after signing. Count how many Direct Debits came off to how many different companies. If two providers are collecting, you are on two agreements.

Frequently Asked Questions

What is the 4Com finance agreement with Propel or BNP?

It is a separate equipment lease with a third-party finance company that sits alongside your 4Com service contract. Propel Finance and BNP Paribas Leasing Solutions are the names Trustpilot reviewers most commonly report. The finance company buys the Hihi handsets / VoIP hardware and leases them to you, typically for 60 or 84 months (5 or 7 years).

Why didn't I know I signed a finance agreement?

Trustpilot reviewers describe the finance agreement being presented as one document in a pack of e-signature documents and not raised as a separate legal contract during the sales call. The term length (5 or 7 years) sits inside the finance document rather than the service contract. Same-day signing and limited review time contribute to customers not realising.

Can I cancel the finance agreement if I cancel my 4Com service?

Not automatically. The finance company is a separate legal counterparty. Cancelling the 4Com service does not cancel the lease. A formal resolution — whether a paid settlement or a CISAS misselling outcome — needs to be explicit about both agreements.

How do I know if I'm on a Propel or BNP agreement?

Check your bank Direct Debits for a separate payment to "Propel" or "BNP Paribas" (or similar). Check your original e-signature bundle for a "Hire Agreement" or "Finance Agreement". Request confirmation in writing from 4Com and the finance company if you are unsure.

What if I want to complain specifically about the finance agreement?

Complain in writing to 4Com and to the finance company. 4Com complaints route via CISAS after 8 weeks. Finance company complaints may route to the Financial Ombudsman Service or Business Banking Resolution Service depending on your business type. Keep everything in writing throughout.

Explore Your Options

Get a free VoIP quote and see what honest business telecoms looks like — 24-month terms, transparent pricing, no separate 7-year finance agreements.

Or read more:

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About this article. Claims reported here are attributed to public reviews on Trustpilot and similar platforms. They represent the opinions of the reviewers cited, not statements of fact by Compare The Networks. Brands named may dispute these claims. If you are a brand representative who believes any content requires correction, please contact us.

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