In partnership with Novuna Consumer Finance, formerly Hitachi  Capital Consumer Finance, national kitchen retailer Magnet is now offering customers more payment options.

Magnet customers purchasing a new kitchen will now have the opportunity to borrow up to £50k and spread the cost over five years.

Novuna Consumer Finance specialises in tailoring finance offers based on customers’ disposable income and Magnet will use its range of products, including interest-free and interest-bearing options, as well as buy now, pay later plans.

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Using the Novuna financial packages, Magnet can collaborate with customers and customise loan amounts and repayment options.

By offering greater flexibility over terms, deposits, and loan amounts, retailers can create payment plans to suit a customer’s lifestyle, expand access to finance to reach a wider customer base and reduce the number of declined applications.

The kitchen retailer will benefit from Novuna’s ground-breaking soft search which instantly confirms whether a customer is eligible for their preferred credit option, preventing any impact on their credit score before proceeding with the application.

Head of retail at Novuna Consumer Finance Brian Flesk commented on the partnership: “We are thrilled to work with Magnet, and we are confident that our unique point of sale finance offering will assist Magnet in creating the perfect financial solution for each customer, tailored as precisely as their kitchens are designed.”

Director of store operations at Magnet Paul Owen added: “We know our customers appreciate choice whether it’s product breadth, different installation services or a variety of ways to pay, it’s important to offer flexibility.

“By partnering with Novuna, we are providing our customers with just that enabling the option to spread the cost of a kitchen designed especially for them.”