Novuna PaybyFinance

Our 0% finance option lets you easily spread the cost of your purchase, without any hidden interest rates or additional costs. At 0% representative APR, you’ll pay no more than if you were to pay the full amount in one go. Instead, you can spread payments over 12 or 24 months, making styling your home even more affordable.

To be eligible for 0% finance, your basket value must qualify as follows:

• For orders with a basket value of over £1250 you are eligible to apply for 0% finance and can spread your payments over 12 months.
• For orders with a basket value of over £2500 you are eligible to apply for 0% finance and have the option of spreading your payments over 12 or 24 months. 

How does PaybyFinance work?

Applying for 0% finance is far easier and more convenient than you may think. When at the checkout, you’ll be able to select a 0% finance payment option. Then, simply follow the instructions on screen.

Your online credit application will be created by our service provider Novuna and their PaybyFinance (PBF) application system. The data you enter during the checkout process is then securely passed to PBF, supplemented by additional information collected during the credit application process.

Once your finance application is approved, you will then be advised of how to sign the finance agreement. You’ll also receive an email confirming these details. Please read the agreement carefully checking that all the details are correct, then either electronically sign the agreement or print and sign the agreement in both boxes. Post the signed agreement to the address shown on the covering letter of the agreement.

Following receipt of your finance agreement and a few additional checks, your goods will be dispatched. It’s that simple!

Am I eligible for PaybyFinance?

Before you start your application, it’s a good idea to check if you are eligible for finance. We’ll need you to be:

• Over the age of 18
• Work at least 16 hours a week, or be retired with an income.
• A resident of the United Kingdom and have lived in the UK for the last 12 months or more.

Unfortunately, we are unable to offer online finance to residents of Eire. Homemakers aren't excluded from applying under their own names; however we will require the employment details of your spouse / partner in order to process your application.

Will a deposit be taken?

Yes. When you provide your card number at the checkout, we will take a 10% deposit. We will hold the stock for you whilst you process your application and until your finance is approved. 

Can I request delivery to an address other than my home?

No. In order to safeguard against fraudulent applications, we're able only to deliver goods when the billing and delivery address are the same. Orders with a different delivery and billing address will not be processed. Please also note that PaybyFinance is only offered to UK customers with goods being delivered to UK addresses.

Are there any arrangement fees or hidden costs?

No. The great thing about 0% finance is that you pay no more than the total price of your order. There are no arrangement fees or hidden extras.

Can I choose my repayment period?

We offer two repayment terms:

• For orders with a minimum basket value of £1250, the repayment term is 12 months.
• For orders to the value of or over £2500, the repayment period can be increased to 24 months.

Orders under £1250 will not qualify for finance. If you change your order and it falls below this threshold, your loan will be cancelled and we will require full payment.

When will my repayments start?

Your monthly repayments will begin one month after your purchase has been delivered.

Will paying by finance delay my delivery?

Your products will be allocated to your order when your completed application is agreed and signed. The only time paying by finance may affect your chosen delivery date is if you apply outside working hours or if your application is referred, as a member of the Novuna team may need further information from you. If a new date for delivery needs to be arranged, our customer service team will be in contact with you.

Will I be able to change my direct debit date?

After your first payment has been made, you may contact Novuna directly to change to a more convenient payment date. The first time you do this will be free of charge but any further changes will incur an additional cost. Novuna asks that you make the request at least 5 working days before your payment date is due.

What if I want to change my order?

If you want to change your order, you have 30 days from the date of your accepted application to amend it. Please get in contact for us to discuss the options available to you. A further credit check will be required if your order value is increased by over £50.

What if I want to return my order once it’s been delivered?

If you’d like to return your items, please contact us so we can discuss this. If we accept that the good(s) can be returned, we will contact Novuna on your behalf to alter your finance agreement. It can take between 1 to 2 days to correct the finance terms agreement. Refunds can take between 3 to 5 working days.

What happens if I miss payment?

If for whatever reason you miss a payment, you will be contacted by Novuna's PaybyFinance team to discuss the missed payment.

Once my application is approved, what happens next?

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. Please 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, we will be notified and that’s it! You need to do nothing more.

If you choose to print and return your agreement you will need to print and 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.

My application has been referred, what now?

A referred application means it has a temporary status. You will be contacted by Novuna to inform you of an accepted decision, a declined decision or with a request to provide further information. Until the information requested by Novuna’s underwriters is provided a final decision will not be made on the application.

What happens if my application is declined?

If you are declined during the credit application process you will be shown the decision by Novuna, along with a decline letter. You’ll then be redirected back to the the Danetti website. If you’d like to speak with one of our team about a decline notification please get in contact.

Why has my application been declined?

In addition to credit scoring, we also take into account confirmation of your identity, validation of certain application details, existing commitments and information held at the credit reference agencies. Though we are unable to provide you with a main reason for decline of your application, it is usually based on one, or a combination of the following:

• 1. Your credit score (please note that every finance company will score you differently)
• 2. Adverse credit reference agency information
• 3. You are considered to be overcommitted
• 4. You are aged under 18
• 5. Your existing account performance with other lenders

Will you credit score me and if so, what does this mean?

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 us to produce consistent decisions, ensuring all our applicants are treated fairly. Credit scoring does not discriminate on the grounds of sex, race, religion or disability.

What type of information do credit reference agencies hold about me?

Some of the information is public information, for example electoral roll, County Court Judgements and bankruptcies. Other lenders may also file information about accounts you hold with them, for instance, this could include your payment history and outstanding balances on these accounts. Any requests for credit, where a credit reference search has been undertaken, will also be filed, although the result of the request is not recorded.

How do I obtain a copy of this information?

You should send a cheque for £2.00 made payable 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
• Callcredit Limited, Consumer Services, PO Box 491, Leeds, LS3 1WZ

The above listed agencies will provide details of information relating to these addresses. If you believe that the information is incorrect, you can ask the agency to correct it.

Can I reapply if my application is not successful?

Yes. We fully understand that circumstances can change and just because we have refused a previous application, it does not mean that we'll automatically turn down a further request. We do suggest however, that you leave at least 6 months between applications.

If I need help with my order, who can I contact?

If you have any further questions or need some help with your order, give us a call on 020 3588 1380.

Credit subject to status and affordability. Terms & Conditions Apply. Danetti are a credit broker and are Authorised and Regulated by the Financial Conduct Authority.

Credit is provided by Novuna Personal Finance, a division of Mitsubishi HC Capital UK PLC Authorised and Regulated by the Financial Conduct Authority.

Financial Services Register no. 704348. The register can be accessed through https://www.fca.org.uk

 

Key Terms

APR%

The annual percentage rate associated with each of the financial products determined by Danetti and Novuna.

Cash Price

The total amount of good and services (e.g. shipping/or warranty) to be financed.

Deposit amount

The cash amount the customer pays to the retailer by credit/debit card, subtracted from the total amount for the purposes of the loan calculation.

Term

The customer can choose the terms offered which have been agressed by Danetti and Novuna.

Total payable amount

The sum of all the monthly instalments due, plus the deposit amount.