We are members of the Own Art scheme and are therefore able to help make buying art easy and affordable by letting you spread the cost of your purchase over 10 months with an interest free loan.
Own Art loans allow you to borrow from £100 up to a maximum of £2,500. Should you want an item that costs more you can pay the balance by credit or debit card. Please note that you cannot apply for multiple Own Art loans to cover the costs of a single purchase. Though you can fund more than one item at a time as long as the total does exceed maximum loan available.
There is no limit on the number of times you can use Own Art either but there is normally a period of 4 months before the finance company will allow another loan. Each loan application which only takes about ten minutes, is subject to a credit check, and your application may be declined if you have not yet already established a repayment record for an existing Own Art loan, or if the finance company considers that the total amount of credit you are asking for is too high in relation to your income.
Own Art is available to all UK residents over the age of 18, subject to status. This means that you must be able to meet the following criteria in order to be approved for a loan:
Over the age of 18
A permanent UK resident
Working at least 16 hours a week (employed or self-employed)
A retired person in receipt of a pension
If you are not working but are married to or living with a partner who does have a full time job, then you may still apply provided that your partner is happy for their employment details to be included on your application form.
For more detailed information visit the Arts Council's Own Art web site click here