Finance Options

Retail finance, often known as consumer finance, gives customers like you more flexible ways to pay when you make a purchase from select retailers.

We offer different finance options to allow both retailers and shoppers to choose the finance solution that best suits them.

Spread the cost of your purchase over a short timeframe, with no interest costs to worry about.

Make repayments over a fixed term, with interest charges added. Ideal if you want to make a big purchase more manageable.

Get what you need now and start paying for your purchase up to 12 months later. You'll have the option to pay back some or all of your finance during the deferral period without paying interest.

1. Select your product

   Whether you're buying a bed, a bike or a boiler, if you select products or services from one of our retail partners you'll be able to pay by finance at the in-store or online checkout.

2. Choose your finance option and repayment plan

   Retail finance will appear as a payment method at the checkout.

   Each retailer will offer different finance options, so choose the one that suits you best. Depending on the options available, you may wish to choose to buy now and not pay a penny for up to 12 months or spread the cost of your purchase over time with or without interest.

3. Apply for finance

   Once you've selected to pay using finance, you'll be asked to provide some further personal and financial information. Our application takes just a few minutes to complete and you'll get an instant decision. If accepted, you'll be asked to e-sign your credit agreement.

   If, for whatever reason, your application is denied you may be presented with a selection of different payment options (such as a smaller loan, a longer term, or a higher deposit amount) that will result in an accepted application. If you choose to go ahead with one of these options, there'll be no additional credit checks and your application will be accepted automatically.

4. Deposit payment

   You may choose to put down a deposit to lower your loan amount or shorten your loan term. You'll be able to pay your deposit at the checkout once you've selected the right finance option for you.

5. Receive your goods

   Your retailer will deliver your goods or carry out the required service.

6. Make your repayments

   Around a month after your product has been delivered, you'll start to make your regular repayments. If you have selected to defer your payment using buy now pay later finance, you won't pay a penny until the end of the deferral period - unless, of course, you choose to settle your agreement early (this usually costs just £29).

   You can also make extra payments or settle your balance at any time. Manage your account 24/7 online or via our app or get in touch with our award-winning customer experience team.

We work closely with retailers across the country to help offer payment options to suit their customers.

That includes interest free and interest bearing credit options, plus buy now pay later plans. Each retailer may offer different finance options, or a combination of different payment solutions.

You will be able to find out what retail finance options are available by looking at your preferred retailer's website or asking in-store.

No. There are no arrangement fees, application fees or hidden costs.

Late fees or settlement charges may be applicable depending on the finance option chosen and will be detailed within your credit agreement.

Your monthly repayments will begin one month after your purchase has been delivered. For buy now pay later agreements, the monthly repayments will start after your deferral period (which will commence after your purchase has been delivered).

There are some criteria you must meet before you'll be able to apply for finance with us:

• You must be over 18 years old
• You must work at least 16 hours a week, be retired with a pension or a homemaker with a partner in permanent paid employment
• You must be a UK resident, and have been living here for the past three years
• You must have a mobile phone number and email address
• You must have a bank or building society account from which a Direct Debit can be taken
• You must have a good credit history, with no outstanding County Court Judgements (CCJs)

Please be aware that meeting the above eligibility criteria does not automatically guarantee your application will be accepted. Our lending decision will be based on your personal and financial circumstances, credit history, the amount you wish to borrow and over how long.

Applying for finance couldn't be easier or more convenient. When you buy online, you have the choice of applying for finance by adding your purchase to the shopping basket, selecting the most suitable finance option for you, and completing an online application form. Just follow the simple instructions, entering your personal details as required. We'll do the rest.

The process is similar when you buy in-store. Your sales consultant will ask you to select the right finance option for you, and you'll be able to complete our application form right there in-store. You'll also have the option to be sent a link to our application form to complete later if that suits you better.

The whole process only takes a few minutes and is simple and secure.

A hard search will be recorded on your credit file when you apply for retail finance. We'll perform credit and identity checks on you with one or more credit reference agencies ("CRAs") including Equifax, Experian and TransUnion to ensure the information provided in your application is accurate.

Credit scoring is the process used by financial services companies to evaluate the credit risk of new applicants. This technique will be applied to your application for online finance. Credit scoring works by awarding points for each answer given on the application form such as age, income and occupation, together with information obtained from credit reference agencies.

This information allows consistent decisions to be provided, ensuring all applicants are treated fairly. Credit scoring does not discriminate on the grounds of sex, race, religion or disability.

You may also have the option to run a soft credit check before clicking to apply. This means you'll be able to see your eligibility and the rate you'll be offered with no impact to your credit score before you apply for retail finance with us.

Some of the information is public information, for example electoral roll, County Court Judgments and bankruptcies. Other lenders may also file information about accounts you hold with them, such as your payment history and outstanding balance on these accounts. Any requests for credit, where a credit reference search has been undertaken, will also be filed, although the lender will not be able to see the outcome of any previous credit applications.

You can obtain a copy of your credit report by sending a request to the relevant credit reference agency, together with details of all addresses at which you have lived over the last 6 years:

• Experian Limited, Customer Support Centre, PO Box 9000, Nottingham, NG80 7WF
• Equifax Ltd., Customer Service Centre, PO Box 10036, Leicester, LE3 4FS
• TransUnion International UK Limited, Consumer Services, PO Box 491, Leeds, LS3 1WZ

Within minutes of your application being approved, you will be presented with the options to either e-sign or print and return your finance agreement.

If you choose to e-sign your agreement, a PDF of your agreement will be displayed on screen. You should read the agreement carefully before clicking all the relevant sections agreeing to its terms.

Once you have agreed to the terms of the finance agreement, the retailer will be notified and you need do nothing more.

If you choose to print and return your agreement you should print the agreement, read it carefully and then sign the document following the instructions on the covering letter. This signed document should then be posted to the address shown on the covering letter of the finance agreement.

Please be aware that your order will not be shipped until your completed and signed agreement is returned and received by Novuna Personal Finance.

If your application has been referred, this just means we need to manually review your account before making a lending decision.

Our Underwriting Team will review your application, usually within one hour. They may request some further information from you before making their decision.

Unfortunately, we are unable to provide you with a reason for why your application has been declined. This is because our lending decision is based on numerous factors such as your credit risk, affordability and validation of your application details. A declined application is usually based on one, or a combination of the following:

• Your credit score (please note that every finance company will score you differently - individuals do not have one universal credit score)
• You may not meet our eligibility criteria
• Your existing account performance with other lenders
• There may be adverse information on your credit report
• You may have too much debt to comfortably be able to afford any additional repayments.

Information recorded on your credit report does factor into our lending decision. We recommend getting a free copy of your credit report from the three main credit reference agencies (Equifax, Experian and TransUnion). Examine each report to make sure there are no obvious errors or misinformation.

Reapplying or applying for finance elsewhere straightaway could do more harm than good, as each hard credit check will be recorded on your file which could be a red flag to lenders. It may be best to wait until your circumstances change or your credit score has improved before submitting another application.

Yes. We acknowledge that circumstances change. Just because a previous application has been refused, it does not mean that a further request will automatically be turned down. We do suggest that you leave at least 6 months between applications, though.

It's now up to the retailer to process your order.

We will begin to collect your repayments one month after your purchase has been delivered unless you have chosen our buy now, pay later option in which case your monthly repayments will begin after the deferred payment period has ended.

You can see all aspects of your finance agreement, including repayment amounts and the schedule of repayments, by logging into your account online or via our app.

You can manage your Novuna account online or by downloading our app from the App Store or Google Play. It's simple to register and get started. All you need is your agreement number, email address, date of birth and postcode.

Control almost every aspect of your account whenever or wherever suits you:

• Check your balance
• Make a payment
• Manage your details
• Get a settlement quote
• Change your payment date (after the first payment has been made)
• If you download the app, opt in to handy notifications to get the latest updates on your account

The quickest and easiest way for you to change the details on your agreement is online or via our app. Create an account or access a pre-existing account here.

If you're having trouble logging in or you need to speak to a member of our team, please call 0344 375 5500.

Once we have successfully collected your first payment via Direct Debit, you will be able to change the date of your repayments by logging into your account online or via the app.

There are a few things to remember:

• If your current or new payment date is within the next 7 days it will not be possible to change the date for the current month and the change will take effect from the following month
• If the new payment date has already passed, the change will take effect from the following month.
• For everything else we can change the date on receipt of your request and will let you know when the change will be effective from.
• We cannot accept a Direct Debit instruction from a company bank account

You can settle your loan early but, depending on your credit agreement, there may be an early repayment charge of £29 when settled within the deferral period stated on your agreement.

Please contact our team on 0344 375 5500 to discuss this further.

The amount you pay each month will be agreed with you at the start of the finance period so will not be able to be changed.

You will, however, be able to make extra payments via your online account, the Novuna Personal Finance app or by contacting our team on 0344 375 5500.

Payments higher than your monthly repayment will be deducted from the outstanding balance without affecting your monthly payment. Amounts less than your monthly repayment will reduce your next Direct Debit.

'Novuna Personal Finance' will appear on your bank statement when your Direct Debit payment is collected.

You will be able to withdraw the agreement within 14 days. After this time period you will be bound by the terms of your credit agreement and will not be able to cancel. That said, you will be able to repay your loan in full - or make overpayments - at any point without incurring any penalty charges.

If you wish to cancel the order of your goods or services or return an order, please contact the retailer directly. They will then contact us to confirm the cancellation or return, which will enable us to issue a refund and cancel your credit agreement with us.

Please contact the retailer you purchased your goods or services from if you have any questions about your order. You may wish to change or amend your order, or you may have an issue with the goods or services you have received. Whatever your enquiry, your retailer should be able to help you.

We understand that there may be many unexpected events that put a strain on your finances. If you are unable to make your repayments, please get in touch with our team as soon as possible on 0344 375 5488. We'll need to know a bit more about your current circumstances and financial situation to help us to advise on the most suitable route forward.

If you're experiencing financial difficulties, you may be able to receive confidential support from the following free debt charities and organisations:

• StepChange Debt Charity
• National Debtline
• Citizens Advice Bureau
• Money Helper