Finance FAQ
Just select the finance option on the checkout page.
To apply for online 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 Eire. Homemakers aren't excluded from applying under their own names; however, the employment details of your spouse or partner will be required in order to process your application.
Applying for online finance couldn't be easier or more convenient. When you buy online from Chrono Group, you have the choice of applying for finance by adding your purchase to the shopping basket, selecting the finance option, and completing an online application form. Just follow the simple instructions, entering your personal details as required, and we'll do the rest. The whole process only takes a few minutes and is simple and secure. Once your finance application is approved, you'll be advised of how to sign the finance agreement and will also receive an email confirming these details. Please read the agreement carefully, checking that all the details are correct, then either electronically sign it or print and sign it in both boxes and post the signed agreement to the address shown on the covering letter. Following receipt of your finance agreement and a few additional checks, your goods will be dispatched.
All finance decisions are made within 60 seconds. Once you are approved, we will contact you (during working hours, Monday to Friday) to arrange delivery. If your application is referred, Novuna's Underwriting Team will review it and may request some further information from you before making their decision.
Within minutes of your application being approved, you'll be presented with the option to either e-sign or print and return your finance agreement. If you choose to e-sign, a PDF of your agreement will be displayed on screen. Read it carefully before clicking each of the relevant sections to agree to its terms. Once you've agreed, Chrono Group will be notified and you need do nothing more. If you choose to print and return your agreement, print it, read it carefully, then sign the document following the instructions on the covering letter and post it to the address shown. Note that products will not be allocated to your order until your completed and signed agreement is returned to and received by Novuna Personal Finance. Shipment of your goods will follow soon after.
Your monthly repayments will begin one month after your purchase has been delivered.
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, and it will be applied to your application for online finance. It 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 allows consistent decisions to be made, ensuring all applicants are treated fairly. Credit scoring does not discriminate on the grounds of sex, race, religion or disability.
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. Although Novuna is unable to provide a single main reason for declining an application, it is usually based on one, or a combination, of the following:
Your credit score (please note that every finance company scores differently)
Adverse credit reference agency information
Being considered overcommitted
Being aged under 18
Your existing account performance with other lenders
Adverse credit reference agency information
Being considered overcommitted
Being aged under 18
Your existing account performance with other lenders
Some of the information is public, for example the electoral roll, County Court Judgments and bankruptcies. Other lenders may also file information about accounts you hold with them — for instance, your payment history and outstanding balance on those 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.
Send a request 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 agencies listed above will provide details of information relating to these addresses. If you believe the information is incorrect, you can ask the agency to correct it.
Yes. We acknowledge that circumstances change, and just because a previous application has been refused does not mean 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 only able to deliver goods to the home address of the applicant.
The rate of interest is the cost you pay each year to borrow the money, expressed as a percentage. It does not reflect fees or any other charges. The APR is a broader measure of the cost of borrowing than the interest rate, because it reflects both the interest rate and the other charges you pay to get the loan. As the FCA describes it: "APR stands for the Annual Percentage Rate of charge. You can use it to compare different credit and loan offers. The APR takes into account not just the interest on the loan but also other charges you have to pay, for example any arrangement fee. All lenders have to tell you what their APR is before you sign an agreement, and it will vary from lender to lender."
Representative example:
Cash price of goods – £20,000
Deposit / advance payment – £10,000
Amount of credit – £10,000
Interest rate – 11.9% p.a. fixed
Representative APR – 11.9%
Term – 36 months
Monthly repayment – £328.78
Total amount payable – £21,836.08