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OwnArt
Interest free loans.
OwnArt
is an interest free loan scheme. It is designed to make it easy
and affordable for members of the public to buy original, high
quality contemporary works of art such as those for sale at Dansel
Gallery.
You
can also buy paintings, sculpture, glassware, ceramics, drawings,
photography, jewellery, furniture, limited edition prints and
textiles; in fact, you can buy any work of art or craft by a
living artist at galleries that operate the scheme.
Dansel
Gallery can even help you commission something unique by a craftsmen
you admire. Ask in the gallery to arrange this option if required.
How
much can I borrow?
Loans are available for up to £2,000, over a period of up to 10 months.
You can buy several items at a time, or one or more items at different times
in different galleries, providing the total amount you owe does not exceed £2,000
during any one year.
An example might be: a sculpture is priced at £1,200. This requires a £120
deposit (10%). A loan is arranged of £1080 and is payable at £108
per month for ten months. The total payment is £1,200: APR 0%.
Do
I have to pay anything up front?
You do not have to pay a deposit, but you can if you wish.
Are
there any hidden extras?
There are no extra costs. There is no charge for the credit (APR 0%). This
means the total amount payable under the loan, and the deposit, is not more
than the cash price of the piece(s) of work you purchased.
There
is no administrative charge or handling fee when you take out
an interest free loan.
How
do I apply for an OwnArt loan?
We have the forms at Dansel Gallery.
To
be eligible for an interest free loan, you need to be aged over
18, resident in the UK and have a bank or building society account
that can operate standing orders. We need to see some form of
identification; driving license, and credit card.
We will help you complete the credit agreement.
After
satisfactory credit checking, a standing order will be set up
to make your repayments.
How
long before I can take my purchases away?
Approving a loan usually takes around 10 minutes on the telephone. Once the
loan is approved, your work of art can be taken straightaway or delivered.
Who
runs this scheme?
OwnArt is part of a national scheme. It is administered by HFC Bank.
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