Own Art loans allow you to borrow from as little as £100 up to a maximum of £2,500 for the purchase of works of art by living artists.

There is no limit on the number of times you can use Own Art, but we recommend that you don’t apply for more than one loan at a time. Each loan application 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.

The minimum you can borrow is £100 (monthly repayment of £10), but this can be used to cover a group of lower value items whose combined total adds up to £100 or more.

If you are buying something more valuable than £2,500 you can use an Own Art loan as a part payment. Please note that you cannot apply for multiple Own Art loans to cover the costs of a single purchase.

Are you eligible?

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.

Once you’ve found the piece of work that you want to buy, just let the gallery know that you’d like to apply for an Own Art loan to finance your purchase.

Don’t forget that if you are applying for the loan in person you’ll need to have proof of ID with you in the form of a driver’s licence or utility bill, along with a credit or debit card as proof of signature.

Staff in the gallery will take you through the loan application process, which normally takes about 10 minutes. Once you’ve given all the information they need, you’ll get an instant decision.

There’s no deposit necessary (although some galleries may ask you to provide one if you need to take the work away with you immediately).

Once you’ve signed the paperwork, you’re nearly there.

Ask the gallery when you can collect the work (usually no more than 14 days after your purchase) – and then its yours!

Our finance partner Hitachi Capital Consumer finance will send you a welcome letter and the 10 monthly payments will be collected by direct debit from your account starting a few weeks after you’ve made your purchase.

Simple as that.