To assist our clients with the many upfront costs needed to prepare a property for sale, we have engaged a third party credit provider, CampaignFlow, to offer a Pay Later option.
Pay Later allows you to pay your Styling and any trade related costs completed by Advantage Novari Projects at settlement, withdrawal or 180 days – whichever comes sooner. There are no upfront or service fees and there are no monthly repayment requirements with Pay Later.
The following is a summary of the eligibility, terms and conditions for Pay Later.
Advantage Novari has engaged CampaignFlow, a third party credit provider to administer Pay Later for us. In choosing Pay Later, CampaignFlow will advance to Advantage Novari the finances for Styling and any Advantage Novari Project costs on your behalf. The funds are then repaid by you to CampaignFlow upon settlement of your property, withdrawal or at 180 days – whichever comes sooner. If the property is withdrawn from sale, the repayment would be immediately payable.
What is involved in the application?
Should you choose Pay Later you will be redirected to CampaignFlow’s website to complete an online application. Customers will be required to confirm details about the property and their personal circumstances as well as provide proof of identity. This will not impact on your credit score. CampaignFlow processes all applications within 24 hours. Approved applicants will be required to digitally sign a loan agreement before the funds are transferred to Advantage Novari. The eligibility for the loan is at the sole discretion of CampaignFlow and not Advantage Novari.
Is there a limit on how much I can borrow?
CampaignFlow provides loans up to $25k for Styling and any Trade work completed by Advantage Novari Projects. Applications for amounts greater than $25k will be considered on a case-by-case basis and may require further assessment and eligibility. CampaignFlow is a licensed and regulated financial services provider and is required to ensure that the loan is suitable for you and may require details about your assets and income to ensure it meets the responsible lending requirements.
Can I add to the original amount borrowed for rental extensions?
Should your property not sell by the time the initial styling contract expires, you are able to add ongoing weekly rental extensions up to the value of 20% of the initial loan amount. For example, if the original styling proposal was for $5,000, it would allow you to extend the loan by a further $1,000 for ongoing weekly rental extensions. Any rental extension amounts greater than 20% of the initial loan, would need to be paid in advance by credit card or EFT transfer.
How is the interest/fees on the loan calculated?
Fees start at 2.9%, plus 1% for every month until repayment (pro rated for part months). For example:
|Loan repaid at 1 month||3.90%|
|Loan repaid at 3 months||5.90%|
|Loan repaid at 5 months||7.90%|
What if I have a long settlement. Is there a cap on how long I have to repay the Styling/Project costs?
The maximum length of time to repay the Styling/Project costs is 180 days. If your property has sold, but the settlement date is shortly after the 180 days, CampaignFlow will look to work with you to achieve a mutually beneficial outcome. An example of this would be to extend you some additional time to allow your property to settle. These decisions will be at the discretion of CampaignFlow. On the rare occasion that a property hasn’t sold at 180 days, the Styling/Project costs would need to be repaid at the conclusion of the loan – 180 days.
If you withdraw your property from market, your payment is immediately due and payable.
What if I don’t repay the Styling/Project costs by 180 days?
Should the instance arise where the Styling/Project costs can’t be repaid at withdrawal or 180 days, it will be a breach of the loan and will need to be resolved between yourself and CampaignFlow. CampaignFlow will look to find an agreeable solution which may be a repayment plan by renegotiating the loan. This may incur further fees and in the most extreme situations of non-repayment, may impact on your credit score.
What are the eligibility requirements for Pay Later?
Pay Later is available if you :
This is general information only and does not replace the Terms and Conditions or Loan Agreement with CampaignFlow. If you have any questions, please ask before proceeding. The full terms and conditions of Pay Later is available upon application through CampaignFlow.
Advantage Novari is not an Agent, nor receives any Commission from CampaignFlow.