Finance FAQ
At Cosi Carpets, we offer flexible finance options to make your flooring purchase more manageable. You can spread the cost of your new carpet or flooring with simple monthly payments—perfect for staying within budget.
You can apply in-store or online. The process is quick, and you’ll receive a decision within minutes.
Frequently Asked Questions
Please speak to your Cosi design team to make an application.
To apply for finance, you must be over the age of 18, work at least 16 hours a week, or be retired with an income. You must also be a resident of the United Kingdom and have lived in the UK for the last 3 years or more.
For Interest Bearing applications your payments will start 30 days after the delivery of goods. For Buy Now Pay Later agreements the monthly repayments will start 12 months after the agreement has been signed.
In addition to credit scoring, Novuna also takes into account confirmation of your identity, validation of certain application details, existing commitments and information held at the credit reference agencies. Though Novuna is unable to provide you with a main reason for declining your application, it is usually based on one, or a combination of the following:
- Your credit score (please note that every finance company will score you differently)
- Adverse credit reference agency information
- You are considered to be overcommitted
- You are aged under 18
- Your existing account performance with other lenders
Some of the information is public information, for example electoral roll, County Court Judgments and bankruptcies. Other lenders may also file information about accounts you hold with them for instance this could include your payment history and outstanding balance on these accounts. Any requests for credit, where a credit reference search has been undertaken, will also be filed, although the result of the request is not recorded.
There are no hidden fees.
For Buy Now Pay Later agreements there is a £29 settlement fee if settled within the deferral period.
Please discuss your application for finance with your Cosi designer. The whole process only takes a few minutes and is simple and secure. Once your finance application is approved, you will then be advised of how to sign the finance agreement and you will also receive an email confirming these details.
Please read the agreement carefully checking that all the details are correct, then electronically sign your finance agreement.
Following receipt of your finance agreement and a few additional checks, your order will be placed.
All finance decisions will be made within 48 hours. Once you are approved, we will contact you (during working hours Monday to Friday) to confirm. If you your application is referred Novuna’s Underwriting Team will review your application and may request some further information from you before making their decision.
We no longer accept hand signed documents as we have fully moved to e-signed applications. Please advise once your application is approved you will be sent an email with a link to e-sign your agreement online.
If you choose to e-sign your agreement, a PDF of your agreement will be displayed on screen. You should read the agreement carefully before clicking all the relevant sections agreeing to its terms.
Once you have agreed to the terms of the finance agreement Cosi Living will be notified and you need do nothing more.
If you choose to print and return your agreement you should print the agreement, read it carefully and then sign the document following the instructions on the covering letter. This signed document should then be posted to the address shown on the covering letter of the finance agreement.
Note that products will not be allocated to your order until your completed and signed agreement is returned and received by Novuna Personal Finance. Shipment of your goods will follow according to the discussed delivery schedule. Soon after your agreement has been returned and received.
Credit scoring is the process used by financial services companies to evaluate the credit risk of new applicants. This technique will be applied to your application for online finance. Credit scoring works by awarding points for each answer given on the application form such as age, income and occupation, together with information obtained from credit reference agencies.
This information allows consistent decisions to be provided, ensuring all applicants are treated fairly. Credit scoring does not discriminate on the grounds of sex, race, religion or disability.