Finance FAQs

This is some important information to provide you with an adequate explanation of the regulated loan you are applying for from Novuna Personal Finance.

Purpose of the loan

• The agreement is to finance the purchase of the specified products from us.

Repayment of the loan

• The amount of your monthly repayment can be found in the ‘Repayments’ section in your agreement.
• The total amount payable under your agreement can be found in the section headed ‘Description of goods/services and credit’.

Your repayment responsibilities

• You are responsible for paying each instalment by the date due. Late payment or failure to repay the balance in full could result in adverse consequences for you. As a responsible lender, we are obliged to notify credit reference agencies where payments have been missed.

Consequences of missing payments

• Missing payments may result in:the total cost of the debt growing you incurring default charges (these are set out in the ‘Additional Charges’ section of your agreement)legal action being taken against you. You may have to pay the cost of such proceedings which may include our legal costa negative impact on your credit score and may make obtaining credit more difficult in the future.

Withdrawing from the agreement

• You have the right to withdraw from the agreement, without giving any reason, for a period of 14 days beginning on the day after this agreement starts. If you withdraw from the loan during this period the loan should be repaid in full within 41 days and where applicable, will incur interest. See your loan agreement for full details.
• If you withdraw from the credit agreement within the 14 day period the agreement will be treated as if it was never entered into.

Pre-contract information

• You will be provided with some pre-contract information about your loan agreement which you can take away with you. You should read this information carefully.

Any questions?

• If you have any questions or would like any further information or explanation please call Novuna customer services team on 0344 375 5500.

Novuna is available for both in-store and online orders over £1500. Applying for finance couldn't be easier or more convenient. You can choose whether to spread your payments over 6, 8 or 10-months, and your first monthly payment will be charged one month after your order is delivered.

For Online Orders

• For online orders, proceed to the Checkout page. You will see Novuna listed as one of the payment options. This will take you to the Novuna application form, and once this is completed, your order will be placed, and you will receive an order confirmation email from us as well as confirmations from Novuna about your finance agreement.

For Showroom or Phone Orders

• For showroom or phone orders, please let our team know you would like to pay using Novuna. They will email you a link which will take you to our online Checkout, where you will see Novuna as a payment option. The good thing about this method is you don’t have to stand in-store and complete the application, you can do it at your leisure once you’ve returned home.

You will be required to pay a minimum deposit of 15% when you place your order, although you can choose to pay more.

The whole process only takes a few minutes and is simple and secure. Once your finance application is approved, you will then be advised of how to sign the finance agreement and you will also receive an email confirming these details. 

Please read the agreement carefully checking that all the details are correct, then sign it electronically in the highlighted boxes. 

Following receipt of your finance agreement your order will enter our production and be dispatched in accordance with our standard delivery lead times.

If you have any questions, please read the FAQs below, but if you can’t find what you’re looking for there, please contact our team on sales@cornishbeds.co.uk or 01726 825182.

Once you submit your application, Novuna will carry out a credit check as part of the assessment process. This may leave a record on your credit file, visible to other lenders in the future.

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.

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 / partner will be required in order to process your application

Your monthly repayments will begin one month after your order has been delivered

No. There are no arrangement fees or hidden extras.

All finance decisions will be made within 60 seconds.

Once you are approved, your order will begin production, and be delivered in accordance with our standard delivery lead times.

If you your application is referred Novuna’s Underwriting Team will review your application and may request some further information from you before making their decision.

Within minutes of your application being approved, you will be presented with the options to either e-sign or print and return your finance agreement.

If you choose to e-sign your agreement, a PDF of your agreement will be displayed on screen. You should 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 Naturalmat will be notified and you need do nothing more. Your order will enter production as normal. 

If you choose to print and return your agreement you should print the agreement, read it carefully and then sign the document following the instructions on the covering letter. This signed document should then be posted to the address shown on the covering letter of the finance agreement. 

Note that your order will not enter production until your completed and signed agreement is returned and received by Novuna Personal Finance, which might cause delays with shipment. 

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 a 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

Some of the information is public information, for example electoral roll, County Court Judgments 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?

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 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.

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 only able to deliver your order to the home address of the Novuna finance applicant. 

Creditor

Mitsubishi HC Capital UK PLC trading as Novuna Personal Finance, (Novuna Personal Finance,we, ours)

Address

2 Apex View, Leeds, West Yorkshire LS11 9BH

Telephone number(s)

0344 375 5500

Credit intermediary address

The supplier being,NaturalmatMordicus House, Odhams Wharf, Topsham, EX3 0PB

The rates of interest which apply to the credit agreement

0%per annum (fixed).

Annual Percentage Rate of Charge (APR)

This is the total cost expressed as an annual percentage of the total amount of credit. The APR is there to help you compare different offers.0% (fixed)

Any other costs deriving from the credit agreement.

£0

Costs in the case of late payments

Charges will be payable under this agreement in the following events:

• Recalled Direct Debit Charge; £22
• Returned or Recalled Cheques; £25
• Issue of a Default Notice; £25
• Letters sent to you as a result of a breach of your credit agreement; £25 (but no such charge shall be made in respect of any such letters sent to you after a Default Notice has been issued, until there are no outstanding arrears on your account, when the charge shall become chargeable again Notice is issued).

Charges may also be payable for reasons stated in clauses (7a) and (8b) of the Terms of Lending of the agreement. We may vary the charges payable under this agreement by giving you reasonable notice to reflect any variation to the cost and expenses to us in carrying out these activities.

Consequences of missing payments

Missing payments could have severe consequences and may result in legal proceedings being taken against you. This could include obtaining a Court Order for a charge on your home. We will add details of your default to your record with the credit reference agencies, which could also make it more difficult or more expensive for you to obtain credit.Other important legal aspects regarding your rights

Right of withdrawal

You will have the right to withdraw from the agreement without giving any reason, for a period of 14 days beginning on the day after the day on which you receive a copy of the executed agreement.

Early repayment

You may repay the credit early at any time in full or part.

Consultation with a Credit Reference Agency

If we decide not to proceed with your credit application on the basis of information obtained from our credit reference agency, we will notify you of our decision and we will inform you that it has been reached on the basis of information held by our credit reference agency and we will provide you with details of which credit reference agency we used.

Right to a draft credit agreement

You have a right upon request to obtain a copy of the draft agreement free of charge. In the event your application is declined we will not provide you with a copy of the agreement.

On the rare occasion that we do receive a complaint, we take it very seriously. If you are unhappy with any aspect of the goods you purchased from us you may contact us in any way you prefer. Our contact details are as follows;

Phone: 01726 825182
Email: sales@cornishbeds.co.uk
Address: Cornish Beds, Mordicus House, Odhams Wharf, Topsham, EX3 0PB

If your complaint relates to your finance agreement

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. Novuna will acknowledge your complaint and investigate it thoroughly and issue their response within eight weeks. 

What to do if you can't reach an agreement

If you are not satisfied with Novuna’s response to your complaint relating to the finance agreement, you may be able to refer the matter to the Financial Ombudsman Service. You must contact them within six months of the date of Novuna’s final response letter to you.

They can be contacted in the following ways:

• Write: Financial Ombudsman Service, Exchange Tower, London, E14 9SR
• Telephone: 0300 123 9 123
• E-mail: complaint.info@financial-ombudsman.org.uk

Further details can be found on the Financial Ombudsman Service 

website: www.financial-ombudsman.org.uk

At Cornish Beds, we want every customer to feel confident, comfortable and fully informed when shopping with us.

We understand that some customers may need a little extra support at certain moments in their lives. This could be due to health conditions, financial worries, personal circumstances, communication needs, or anything else that makes it harder to make decisions or process information.

How we can help

If you feel you may need additional support, please let us know. Our team is here to help by:

• Taking things at a pace that suits you
• Explaining information clearly and simply
• Providing written summaries if helpful
• Giving you extra time and space to make decisions
• Repeating or clarifying anything you’re unsure about
• Allowing you to involve a friend, family member or adviser if you wish

We will always take the time to make sure you fully understand any product or finance option before you decide.

Your privacy

Any information you choose to share with us about your circumstances will be treated with sensitivity and confidentiality. We only record what is necessary to support you.

If you need us

Whether you’re shopping online or visiting a showroom, you can speak to any member of our team

Email: sales@cornishbeds.co.uk

Phone: 01726 825182

We’re here to ensure your experience with Cornish Beds feels calm, considered and supportive, and if you ever need extra help, please don’t hesitate to ask.