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Instore Finance With Novuna
Credit subject to status and affordability. Terms & Conditions Apply. Trio Furnishings 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. Terms & Conditions Apply.
Credit is provided by Mitsubishi HC Capital UK PLC, a trading style of Novuna, authorised and regulated by the Financial Conduct Authority. Financial Services Register no. 704348. The register can be accessed through http://www.fca.org.uk.
We have different types of finance options available, including Interest Free Credit and Deferred Interest Bearing. You can view examples of each type below. Cousins may have different option(s) available right now. Please consult with Cousins which finance options are currently available.
Interest Free Credit
The cost of the goods (less the deposit) is spread evenly across the chosen term. There is no interest on the finance.
Representative example:
Finance Details: Term = 24 months
Rate Interest = 0% APR = 0.00% per annual, fixed
Goods Price = £500
Deposit = £100
Loan Amount = £400
Monthly Instalment = £16.65
Total Amount Payable = £500
This means 24 instalments of £16.65 starting one month from the live date of the agreement.
Deferred Interest Bearing
The customer has nothing to pay for the pre-agreed Deferred Term and if the agreement is settled before the end of the Deferred Period, there is nothing further to pay. However if the customer continues the loan beyond the Deferred Term, the cost of the goods (less the deposit) is spread evenly across the term of the loan at the pre-agreed APR. This is also sometimes known as Countdown Interest Bearing Credit.
Representative example:
Deferred Term = 12 months / Term = 36 months
Rate Interest = 12.9% APR = 12.9% per annual, fixed
Goods Price = £1000
Deposit = £200
Loan Amount = £800
Monthly Instalment = £26.65
Total Amount Payable = £1159.40
This means 36 instalments of £26.65 pounds with the first instalment due 12 months after the agreement starts.
Finance is subject to availability, changes and credit approval.
To apply for instore finance, you must be over the age of 18, work at least 16 hours a week, or be retired with an income. You must also be 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 Ireland. Homemakers aren’t excluded from applying under their own names; however the employment details of your spouse / partner will be required in order to process your application.
For interest bearing credit finance agreements your monthly repayments will begin one month after your purchase has been delivered. For countdown product agreements monthly repayments will start after your deferral period (3 months) ends.
No. There are no arrangement fees or hidden extras.
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.
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 balance 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.
Yes. We acknowledge that circumstances change and just because a previous application has been refused, it does not mean that a further request will automatically be turned down. We do suggest however, that you leave at least 6 months between applications.
In order to safeguard against fraudulent applications, we regret that we’re able only to deliver goods to the home address of the applicant.
In addition to credit scoring, Mitsubishi HC Capital UK PLC also takes into account confirmation of your identity, validation of certain application details, existing commitments and information held at the credit reference agencies. Though Mitsubishi is unable to provide you with a main reason for the decline of your application, it is usually based on one, or a combination of the following:
- Your credit score (please note that every finance company will score you differently)
- Adverse credit reference agency information
- You are considered to be overcommitted
- You are aged under 18
- Your existing account performance with other lenders
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
- TransUnion International UK 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.
If your complaint relates to the finance linked to your purchase you can still let us know about this, but we will forward it on to your credit provider Novuna Personal Finance. Novuna will acknowledge your complaint and investigate it thoroughly and issue their response within eight weeks.