BrightHouse has launched a new single price agreement, allowing customers to pay a weekly payment for a product, delivery, installation, services and cover.

The retailer said it introduced the agreement after listening to its customers who said they would welcome a “simpler” rent-to-own model.

While the representative APR will rise to 64.7%, the majority of customers will pay less under the new agreement, according to BrightHouse, as the types of services included in Optional Service Cover and Damage Liability Cover will be fully included as standard.

Existing customer agreements will not be affected by the change but shoppers can switch to the new offer when they upgrade. It also allows customers who pay weekly to return a product at any time.

The new single price agreement will also enable BrightHouse to launch a fully transactional website.

BrightHouse marketing director Andy Smith said: “Our customers come to BrightHouse for leading brands, great service and affordable weekly payments. These will always be at the heart of our customer offer.  We are constantly looking at how we can improve our offer to reflect our customers’ changing needs and expectations.

“The changes we are making today mean that all our customers will benefit from an unrivalled level of service, and from peace of mind in the new, all-inclusive offer.”