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Novuna Finance Terms & Conditions



Terms and Conditions for Novuna Finance:

Smyth Patterson Limited, 18 Market Square, Lisburn BT28 1AF (FRN: 740336) are authorised and regulated by the Financial Conduct Authority. We are a credit broker not a lender. Credit is subject to status and affordability, and is provided by Mitsubishi HC Capital UK PLC, trading as Novuna. Minimum spend for credit is £300 and a minimum deposit of 20% deposit is required. *Terms & Conditions apply. Credit only available on selected items.

1. Minimum Spend Requirement:
- Spend a minimum of £300 or more on eligible items.

2. Deposit:
- Make a deposit of at least 20% of the total purchase amount.

3. Flexible Payment Period:
- Choose a payment period spanning up to 12 months to spread the cost.

4. Credit Eligibility:
- Approval for credit is contingent on your creditworthiness and financial status.
- Credit is provided by Mitsubishi HC Capital UK PLC, trading as Novuna.

5. Criteria for Credit:
- Minimum spend for credit: £300.
- A minimum deposit of 20% is mandatory.
- Subject to selected items availability.

6. Opting for Finance:
- If shopping in-store or over the phone, inform a sales consultant about your interest in finance.

7. Application Process:
- The process takes only a few minutes and is secure.
- Once approved, an email will guide you through downloading the finance agreement.
- Review the agreement, e-sign if available, or print, sign, and send the agreement.
- After additional checks, your goods will be dispatched.

8. Post-Approval Steps:
- Upon approval, you can e-sign the credit agreement or print and return a signed agreement.
- Products will be allocated upon receipt of your signed agreement.

9. Eligibility for Online Finance:
- Applicants must be over 18 years old.
- Work at least 16 hours per week or have a retirement income.
- UK residents with at least 12 months of UK residence.

10. Repayment Start:
- Monthly repayments start one month after goods are delivered.
- Alternatively, choose to defer payments for 6 months after signing the agreement.

11. Buy Now Pay Later:
- Option to defer payments for 6 months.
- Purchase can be spread over 12 months.
- Early settlement fee: £29.00.

12. Representative Example:
- Example: £1,000 purchase.
- £100 deposit, £900 credit amount.
- Interest rate: 24.9% p.a fixed.
- Representative APR: 24.9%.
- Total term: 60 months (12-month payment holiday, followed by 48 payments of £35.03).
- Total amount payable: £1,781.44.

13. Credit Scoring:
- Credit scoring evaluates risk based on application answers and credit agency data.
- Fair treatment for all applicants; no discrimination based on sex, race, religion, or disability.

14. Application Decline:
- Decline factors include credit score, commitments, age, account performance with other lenders, etc.

15. Credit Reference Agencies:
- Agencies hold public information (e.g., electoral roll, court judgments) and lender data.

16. Obtaining Credit Score Information:
- Send £2.00 and address details to relevant credit agencies for credit score request.

17. Re-Application:
- If declined, re-application is possible after 6 months considering changing circumstances.

Please note: The provided information is subject to Terms and Conditions set by Novuna Finance and may change over time. Always refer to the official terms provided by the company for the most up-to-date information.