Novuna FAQs

Buy the bike you want now and spread the cost with Novuna Finance. This page covers how it works, who's eligible, and how to manage your agreement once you've checked out.

FAQs (Interest Free & Interest Bearing Credit)

About Novuna Finance

Who is Novuna?

Novuna Personal Finance is a trading name of Mitsubishi HC Capital UK PLC, authorised and regulated by the Financial Conduct Authority. They work with retailers across the UK, including Swinnerton Cycles, to offer flexible ways to pay for your purchase.

What finance options do you offer?

Depending on the value of your order, you may be offered:

  • Interest-free credit: spread the cost over a set number of months with no interest to pay
  • Interest-bearing credit: fixed monthly repayments over a longer term, with interest added, for bigger purchases

The options available to you will show at checkout and depend on your order value and circumstances.

How does it work?

  1. Add your bike (or other eligible items) to your basket and choose Novuna Finance at checkout.
  2. Pick the repayment plan that suits you. Every option is shown clearly before you apply.
  3. Complete a short online application. You'll usually get a decision in minutes.
  4. If you're approved, e-sign your credit agreement.
  5. Pay any deposit due, and we'll get your order moving.
  6. Your repayments begin around a month after delivery, or after your deferral period ends if you've chosen buy now, pay later.

Are there any hidden fees?

No. There are no arrangement or application fees. Late payment or early settlement charges may apply depending on your agreement, and these will always be set out clearly before you sign.

Am I eligible?

Who can apply?

To apply for Novuna Finance, you'll need to:

  • Be at least 18 years old
  • Be a UK resident who has lived here for the past three years
  • Work at least 16 hours a week, be retired with a pension, or be a homemaker with a partner in permanent paid employment
  • Have a mobile number and email address
  • Have a bank or building society account that can take a Direct Debit
  • Have a reasonable credit history, with no outstanding County Court Judgments

Meeting this criteria doesn't guarantee approval. Novuna makes its lending decision based on your personal and financial circumstances, credit history, and the amount and term you've applied for.

Will a credit check be carried out?

Novuna can't share the exact reason, as lending decisions are based on a combination of factors: your credit score, whether you meet the eligibility criteria, how your existing accounts are performing, and your overall affordability. It's worth checking your credit report with the main agencies in case of any errors.

Can I reapply if I'm declined?

Yes, though it's best to leave at least six months between applications. Reapplying straightaway, or applying elsewhere immediately, adds another hard search to your file, which can work against you.

My application says "referred" what does that mean?

It means Novuna's underwriting team needs to manually review your application before making a decision. This is usually done within an hour, and they may ask you for a little more information.

Managing your order and repayments

When do my repayments start?

Yes. You can make extra payments at any time or settle your balance in full. Depending on your agreement, an early settlement charge may apply if you settle within the deferral period, so check your credit agreement or contact Novuna directly to confirm.

Can I change my monthly payment amount or date?

The monthly amount is fixed for the length of your agreement, so this can't be changed. You can change your payment date once your first Direct Debit has been collected, by logging into your Novuna account or app.

How do I manage my account?

You can check your balance, view your repayment schedule, get a settlement figure, and update your details any time via the Novuna Personal Finance app or by logging in online.

I want to cancel my order or return my bike, what do I do?

Contact Swinnerton Cycles directly about cancelling or returning your order. Once we've confirmed this with Novuna, they'll cancel or adjust your credit agreement and process any refund due.

I have a question about my order, not my finance agreement.

That's one for us. Get in touch with Swinnerton Cycles and we'll help directly.

I'm struggling to keep up with my repayments.

Speak to Novuna as soon as you can on 0344 375 5488. They'll ask about your circumstances so they can find the right way forward, and can point you towards free, confidential debt advice from StepChange, National Debtline, Citizens Advice, or MoneyHelper if that would help.

Can I cancel within a cooling-off period?

Yes, you have 14 days from signing to withdraw from your agreement. After that, you're bound by its terms, though you can still repay in full or make overpayments at any time without penalty.

Get in touch

For questions about your Novuna Finance agreement, contact Novuna directly on 0344 375 5500 (Monday to Friday, 9am to 5pm) or by emailing CustomerService@novunapersonalfinance.co.uk.

For anything about your order from Swinnerton Cycles, contact us here.