Magnet Finance Options

To help you spread the cost of buying a new Magnet kichen we offer 3 finance options.

Finance is available from 12 to 60 months. Minimum spend applies. £100 deposit required. Applicants must be 18 years or over with a permanent UK address (over 3 years) and be in regular permanent employment (min 16 hours per week).

To find out more please see below or speak to a designer in store.

Option 1 - BUY NOW PAY LATER

0% APR Pay nothing for 12 months

After paying an initial £100 deposit pay nothing for 12 months. You can then settle the remaining cash price in full with no interest to pay.

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%  p.a

 Representative APR                                     0% APR Representative  

 Deposit                                                            £100  

 Total amount of credit                                  £2,900  

 Total amount payable                                   £3,000

 

Or 14.9% APR Variable Pay nothing for 12 months and then spread the cost over 60 months

Alternatively, after paying £100 deposit pay nothing for 12 months. You can then choose to spread the remaining cost over 60 months at 14.9% APR Variable.

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                                     72 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 - PAY MONTHLY OVER 36 MONTHS

5.9% APR Variable

After paying an initial £100 deposit spread the remaining cost over 36 months at 5.9% APR Variable.

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 - PAY MONTHLY OVER 60 MONTHS

8.9% APR Variable

After paying an initial £100 deposit spread the remaining cost over 60 months at 8.9% APR Variable.

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.