Finance FAQ

What is buy now pay later finance?

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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 hot tub or Swim Spa. This is a good option if you are certain that you can pay off the outstanding balance within the set term.

How does buy now pay later work?

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With the BNPL finance option, you pay a minimum deposit amount of £200, then the outstanding balance is deferred for 9 months from the installation date of your product.

Are there fees or interest for buy now pay later?

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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 the rate of 12.9% APR. The remainder of the balance will then default to a loan with an interest rate calculated at 12.9% 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 does financing take?

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Typically applying for one of our finance options takes 10 minutes, using our unique soft search. This soft search will not leave a footprint on your credit history. At the end of the 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.

What if I'm denied a loan?

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Waiting for your credit score to improve naturally is an option, but remember that frequent loan applications can hinder your credit progress. Each application creates a "hard inquiry" on your credit report, visible to lenders and potentially lowers your score. Explore other products or wait strategically to avoid unnecessary inquiries and optimise your chances of securing future credit.