Buy now pay later finance
Need just a little more time to get your finances together? Rather keep the money in your own bank a while longer? Then our Buy Now Pay Later (BNPL) option from Novuna could be for you. BNPL allows you to defer the outstanding balance for up to 9 months, from the installation date of your garden room. This is a good option if you are certain that you can pay off the outstanding balance within the set term.
How does BNPL work?
With the BNPL finance option you pay a deposit of 25%, then the outstanding balance is deferred for 9 months from the installation date of your garden room.
Are there any interest or fees?
The BNPL option carries an admin fee, otherwise known as an ‘exit’ fee, of £29. This is applied by Novuna and added to the outstanding balance.
As long as you pay off the outstanding balance in full within 9 months from your installation date there will be no interest to pay. However if you allow the term to lapse without paying off the balance then the interest that would have been accrued during the 9 month deferral period will be applied to the loan amount at rate of 19.9% APR. The remainder of the balance will then default to a loan with an interest rate calculated at 19.9% APR representative over a term of 120 months.
You can make overpayments whenever you like and clear the balance before the end of the deferment period without incurring any additional costs.
How long will my application take?
Typically applying for one of our finance options takes around 20 minutes. At the end of this application process you will be given a decision as to the outcome of your loan. If you are successful in your application you will receive a link via email from Novuna to e-sign the relevant documents.
Representative Example:
Cash price £16,000.00
25% Deposit £4,000.00
Outstanding Balance £12,000.00
BNPL option allows the balance to be deferred for 9 months from the installation date. An ‘exit fee’ of £29 is applied by Novuna.
Total outstanding balance £12,029.00
Representative Example if not paid off after 9 months:
Cash price £16,000.00
25% Deposit £4,000.00
Outstanding Balance £12,000.00
Interest Rate % (Fixed P.A.) 19.9
Representative % APR 19.9
Duration (including 9 month deferral period) 129 Months
Monthly Repayment £246.55
Total Amount Payable £33,586.00
Settlement Fee £29.00
Interest Bearing Credit
Our interest bearing credit option (IBC) is the most cost effective way to purchase your Cabin Master Garden Room. With the ability to spread the cost over 60 or 120 months, and with no hidden fees or overpayment charges, it puts you in control of your monthly spending and allows you to choose the right term to suit your budget.
How does IBC work?
With the IBC finance option you pay a minimum deposit amount of 25%, then choose a repayment period to suit you and your budget. Before applying we can show you a representative example of the monthly payment amounts for the various terms on offer. You can choose between 60 months, or 120 months.
What is the interest rate you offer?
We are able to offer our IBC option at a competitive rate of 14.9% APR representative. Interest is calculated daily on your outstanding balance. This means that you’re in control of the term of your loan and the total interest payable. Additional payments will reduce the term, and therefore, the total amount of interest paid.
Are there any hidden costs?
There are no hidden costs or charges when choosing our IBC option. Plus you can make overpayments whenever you like. You can also choose to settle your account at any time. Should you wish to settle early, simply call Novuna and they will calculate your settlement figure. Paying your loan off early means that you will only pay part of the interest you would have paid if the loan has run its full term.
How long will my application take?
Typically applying for one of our finance options takes around 20 minutes. At the end of this application process you will be given a decision as to the outcome of your loan. If you are successful in your application you will receive a link via email from Novuna to e-sign the relevant documents.
Representative Example
Loan term available 60 months, and 120 months
Cash price £16,000.00
20% Deposit £4,000.00
Outstanding Balance £12,000.00
IBC finance over 120 months (representative example only)
Monthly repayments £186.09
Total repayable £26,330.80
Available subject to status, written details available upon request.
