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Furniture financing options for retailers

Point of sale credit helps furniture retailers get sales over the line, boosting average transaction values in the process.

Our research shows that 54% of furniture buyers would not have made a purchase without finance. In fact, 40% felt they spent more because point of sale credit was available.

Want to win more customers and get them spending more?

Award-winning furniture finance

Novuna Personal Finance is proud to be named Best Finance Provider in the Big Furniture Awards 2024. This award recognises our dedication to providing leading point of sale credit options that help furniture retailers across the UK connect customers with better payment options.

Read their interview with Head of Retail, Brian Flesk

Our finance solutions for furniture retailers

We offer a range of retail finance solutions so you can choose the option that best suits your business and your customers.

Interest free credit

Interest free credit makes up 94% of all finance transactions, making it the most popular option amongst furniture retailers. Allow customers to spread the cost of a purchase at no additional cost.

Interest bearing credit

Allowing customers to pay for their furniture in fixed-rate monthly instalments over a longer term not only helps customers to manage their outgoings, but it can also be a cost-neutral option for retailers.

Buy now pay later

With our fully regulated buy now pay later option, you can give customers the instant gratification of buying their dream item of furniture now and paying for it later.

Take advantage of our tailored finance solutions

Our application platform incorporates a number of bespoke features to support your customers, including:

  • Soft search functionality, which allows customers to check their eligibility before applying with no impact on their credit file

  • Max loan technology that tells you the maximum amount a customer can borrow. This empowers customers to opt for an upgrade or complete a set of products, knowing they can afford to spread the cost

  • Decline tailoring to help improve accept rates. Customers can change their loan amount, term or deposit without another credit check, allowing them to create a more affordable payment plan

  • Reduce term tailoring tells customers if they can afford to shorten their term and pay off their finance agreement sooner. This can reduce the amount you’ll pay in subsidy costs

With the immediate availability of soft search, tailored finance and max loan, customers have the opportunity to understand their full borrowing potential. So, rather than limiting themselves to one-off purchases, they may wish to undertake entire projects for their homes. That’s ideal in today’s current climate, when customers may be opting to stay put and focus on investing and renovating rather than going all-out on a new property purchase.

Chris Shelton, Strategic Relationship Manager

Hear from our retail finance partner, Sofa.com

“Novuna Customer Finance have been a great partner over the last 5 years. The finance proposition allows us to offer our customers the best credit options, enabling them to purchase an extremely comfy made-to-order sofa and additional homeware, including bedroom and dining furniture, from sofa.com - totally stress-free.”

Sofa.com 

An omnichannel solution to support business growth

Offer finance online or in-store, providing seamless consistency for your customers.

Stand out in a competitive physical environment

Furniture stores are often situated in areas such as retail parks where often multiple similar retailers are competing for attention and footfall. Differentiate by offering customers the chance to spread the cost of their purchase with an established, trusted lender.

Provide support and reliability for your online shoppers

Purchasing furniture online is becoming increasingly popular, with 18% of UK consumers buying furniture and household goods online in the last 12 months. Furniture retailers focusing on e-commerce mustn’t overlook the importance of offering flexible payment options online.

Darren Clark

“We know the furniture shopping experience can be complex. While customers often research their planned purchases online, they may also seek the tactile experience of visiting a store to interact with their chosen products prior to committing to a purchase. Our omnichannel finance solution allows furniture retailers to support customers wherever they choose to make a purchase, providing a more consistent experience.

Chris Shelton

Strategic Relationship Manager

Why you need to bring Novuna retail finance to the table

1. Attract more customers

Offering finance can be a valuable marketing tool, capturing the attention of both new and existing customers.

2. Enhance the experience

We know the furniture industry is all about looking after customers. Support them further by making the cost of big-ticket items more manageable.

3. Avoid abandoned baskets

Give your customers the confidence to pay their way, and close sales sooner.

4. Improve average transaction value

Finance empowers customers to invest more in the items that they truly desire for their homes, all while adhering to their monthly budget.

Partner with the go-to provider of furniture finance

When it comes to the retail finance industry, we’re part of the furniture. Over 3,000 household brands just like you trust in us and our 40 years of experience to deliver the best results.

  • Our reputation and reliability reflects positively on you. Work with a provider that customers recognise and trust.

  • We have experience rolling finance options out across multiple sites, partnering with some of the biggest furniture brands on the high street

  • Our omnichannel solution supports complex buying journeys, including those researching online before finalising a purchase in-store

  • Unrivalled onboarding support for your teams, with training sessions delivered across the country

  • Bespoke credit strategy developed by a dedicated Relationship Manager with a background in furniture retailing

  • Smooth application journey for your customers – quick application, instant decisioning and e-signature technology

  • Our application platform incorporates market-leading features including soft search, tailoring options and max loan

  • Award-winning support for your customers whenever they need us – or they can manage their account 24/7 online

Offer finance on furniture

Ready to partner with one of the UK's leading furniture finance companies?

Please complete the short form, and one of our team will get back to you within three business days.

You will need to confirm you can meet all of the following criteria:

  • Minimum of £2,000,000 in annual sales turnover OR £50,000 in finance in the last year
  • A minimum of 2 years trading history
  • Be trading profitably
  • A minimum net worth of £25,000, unless your business is within the Home Improvements market then a minimum of £100,000 will be required
  • The products you offer are for consumers and NOT for businesses
  • You do not offer renewable energy (including solar), dentistry, invasive healthcare, clothing, personal development or training solutions

Retail Partner helpline

If you are an existing retail partner with a general enquiry, please call our Retail Helpline:

0344 375 5515

Retail Helpline opening hours:
08:45 - 18:00 Monday to Friday
08:45 - 18:00 Saturday
10:00 - 18:00 Sunday

Customer helpline

If you're a customer looking to speak to someone about your existing retail finance or personal loan agreement, call our Customer Helpline:

0344 375 5500

Customer Helpline opening hours:
09:00 - 17:00 Monday to Friday
Closed Weekends & Bank Holidays