Finance Frequently Asked Questions
How long is the finance term?
You will have 10 monthly repayments. These will start once the building has been delivered/installed and the date of your first payment will be on your finance agreement.
How do I choose to PayByFinance?
To pay via interest-free credit, please choose the Finance option on checkout. You can choose your deposit using the slider and view your monthly repayments. Once you have chosen your deposit amount you will be taken to our secure payment gateway to pay your deposit. Once the order has been placed, we will be in touch to start your application process.
If you are unsure If you will be accepted for credit, please get in touch and we can apply using a 'Soft search'. This is where we will ask a few questions and search on your behalf. A soft search will not leave a footprint on your credit file.
If buying at our showroom, one of our team members will be able to discuss the available payment options with you.
Who is eligible to apply for online finance?
To be eligible for finance, you must:
- be over the age of 18
- work at least 16 hours a week, or be retired with an income
- be a resident of the United Kingdom
- have lived in the UK for the last 12 months or more
If you are unsure whether you meet all of these requirements, please contact us on 01233822042.
When do my repayments start?
Are there any arrangement fees or hidden extras for credit?
No. There are no arrangement fees or hidden extras when you opt for a shed on finance.
How do I apply for online finance?
When you buy any timber garden building from us over the price of £500, you have the choice of applying for finance by adding your purchase to the shopping basket, selecting the interest-free finance option and completing an online application form. Follow the simple instructions, entering any personal details that may be required and Novuna will take care of the rest.
Once my application is approved, what happens next?
Once your finance application is approved, you will be asked to either sign the agreement electronically or print and sign your finance agreement.
If you opt to electronically sign your agreement, a PDF of your agreement will be displayed on the screen. Ensure you 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 Ace Sectional Buildings will be notified and you need do nothing more.
If you opt to sign and print your finance agreement, please read it carefully and sign the document by following the instructions on the covering letter. Once the document is signed, you should post to the address shown on the covering letter of the finance agreement.
It is important to note that your garden building will not be allocated to your order until your completed and signed agreement is returned and received by Novuna.
Will you credit score me and if so, what does this mean?
Credit scoring is a process used by financial service companies to evaluate the credit risks involved with a new applicant. Credit scoring will be applied to your application to establish whether you qualify 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.
If you decline my application, what is the reason?
In addition to credit scoring, Novuna also takes into account confirmation of your identity, validation of certain application details, existing commitments and information held at the credit reference agencies. Though Novuna is unable to provide you with the main reason for declining 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
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 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.
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
- 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 my application is not successful, can I re-apply?
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.
Can I request delivery to an address other than my home?
In order to safeguard against fraudulent applications, we regret that we're able only to deliver goods to the home address of the applicant.
Ace Sheds have partnered with Novuna Personal Finance to provide an Interest-Free Finance Option.
Novuna Personal Finance is a trading style of Novuna Capital (UK) PLC Authorised and Regulated by the Financial Conduct Authority.
Novuna Capital (UK) Plc provides market-leading point of sale retail finance, award-winning personal loans, and support the growth of UK business with a full service offering from asset finance to vehicle solutions.