Magnet Finance Options

Magnet offer a range of Finance options, see below for details. For further information speak to a designer in store.

Who can apply for finance?

- Applicants must be 18 year or over on the date of application.

- Permanent UK resident - min of 3 years.

- In regular, permanent employment working a minimum of 16 hours per week.

Option 1 - Buy Now Pay Later 0% APR

Pay an initial £100 deposit and then don't pay anything else for 12 months. Then pay the balance in full with no interest payable. 

See representative example opposite.

Credit is subject to application and status. Minimum spend £250.

Magnet Limited acts as a credit broker and not the lender. Barclays Partner Finance acts as the lender.

Representative Example:

Item Value (cash price)                                 £3,000

Agreement duration                                      12 months

Annual rate of interest                                   0% APR p.a

Representative APR                                      0% APR Representative

Deposit                                                            £100

Total amount of credit                                   £2,900

Single payment after 12 mths                      £2,900

Total amount payable                                   £3,000

Or Spread the cost over 60 months 14.9% APR variable

Pay an initial £100 deposit and then don't pay anything else for 12 months, then spread your payments over 60 months.

See representative example opposite:

Credit is subject to application and status. Minimum Spend £500.

Magnet Limited acts as a credit broker and not the lender. Barclays Partner Finance acts as the lender.

Representative Example:

Item value (cash price)                                £3,000

Agreement duration                                     60 months

Annual rate of interest                                 14.9% p.a

Representative APR                                   14.9% APR Representative

Deposit                                                        £100

60 Monthly Payments                                 £76.59

Total amount of credit                                 £2,900

Total amount payable                                 £4,595.31

Option 2 - 5.9% APR Variable

Buy now but start spreading the cost right away over 36 months. £100 deposit required.

See representative example opposite - 

Credit is subject to application and status. Minimum Spend £500.

Magnet Limited acts as a credit broker and not the lender. Barclays Partner Finance acts as the lender.

Representative Example:

Item value (cash price)                              £3,000

Agreement duration                                  36 months

Annual rate of interest                              5.9% p.a

Representative APR                                  5.9% APR Representative

Deposit                                                        £100

36 Monthly Payments                                £87.89

Total amount of credit                               £2,900

Total amount payable                               £3,264.14

Option 3 - 8.9% APR Variable

Buy now but start spreading the cost right away over 60 months. £100 deposit required.

See representative example opposite -

Credit is subject to application and status. Minimum Spend £500.

Magnet Limited acts as a credit broker and not the lender. Barclays Partner Finance acts as the lender.

Representative Example:

Item value (cash price)                               £3,000

Agreement duration                                    60 months

Annual rate of interest                                8.9% p.a

Representative APR                                   8.9% APR Representative

Deposit                                                         £100

60 Monthly Payments                                 £59.58

Total amount of credit                                £2,900

Total amount payable                                 £3,574.57

Magnet Limited, Allington Way, Darlington DL1 4XT acts as a credit broker and not the lender. Magnet Ltd. only offers financial products from Barclays Partner Finance. Barclays Partner Finance acts as the lender. Barclays Partner Finance is a trading name of Clydesdale Financial Services Limited is authorised and regulated by the Financial Conduct Authority (Financial Services Register number 311753) Registered in England. Registered No 2901725. Registered office: 1 Churchill Place, London E14 5HP.