Asset Based Loans

Asset Based Financing

Depending on your current circumstance and intended use for the loan, asset loans could represent and ideal option for you and/or your business. With no credit checks or proof of income required to qualify for an asset based loan, it can be considerably quicker and easier to obtain the funds you require than with a more traditional loan or mortgage.

The amount borrowed is secured entirely on the asset or assets provided as security – asset based loans typically been available from £5,000 up to £1 million.

How asset based lending works

As always, we make it as quick and easy as possible for you to obtain the UK asset finance you require for just about any purpose whatsoever. The application process is extremely simple, involving the following four steps:

• Get in touch: Contact a member of our team and let us know how much you would like to borrow and what asset or assets you intend to provide as security.
• Valuation of assets: We will then go about the process of valuing the assets you have offered, with the assistance of an experienced valuation team.
• Issue of offer: Just as soon as the asset or assets have been valued, we will be ready to make you an offer. This will include confirmation of interest rates, any arrangement fees, the total asset finance loan amount we can offer and all other terms and conditions.
• Payment: If you decide you are happy with the offer and wish to go ahead, you can indicate your acceptance online and we will send the money directly over to your account.

One of the biggest benefits of asset finance products is the way in which an initial decision can be made in less than an hour and it is possible to receive the funds you require in just 24 hours.

Upon successful repayment of the loan as set out by the terms and conditions agreed upon, your assets will be returned to you immediately.

Get in touch today to discuss the different types of asset finance available.

No valuation or application fees!

We take pride in offering access to uniquely affordable and flexible independent asset finance, with absolutely no application or valuation fees to pay at any time.

Unlike most traditional and contemporary lenders alike, we eliminate as many additional charges as possible to maximise versatility and accessibility.

Asset finance rates of interest also tend to be considerably lower than those applicable to traditional unsecured loans.

Non-payment

In the event that an asset based finance loan is not repaid in accordance with the established terms and conditions, the lender will sell-on the assets provided by the borrower to cover the costs of the loan. Should the value of the assets exceed the remaining loan amount, the excess proceeds raised will be returned to the borrower.

Be sure to get in touch immediately if you fall in repayment difficulties, in order to discuss the available options and arrange a mutually beneficial solution.

Accepted assets

When you secure finance, you need to have acceptable assets to hand to use as ‘security collateral’. A wide variety of assets and personal property can be used to guarantee close asset finance. Common examples include antiques, fine art, cars and other vehicles, homes, business properties, land, jewellery and so on.

Asset refinancing

Asset refinance products provide you with the ability to obtain quick and easy funding for almost any purpose whatsoever, by releasing some or all of the capital tied up in your property. Typically available from around £20,000 up to £100 million or more, refinance asset finance allows the borrower to release up to 100% of the value of their assets.

Often turned to as an alternative to conventional bridging loans, it is possible for an asset refinance application to be approved within hours and paid out within one working day. Given the nature of asset refinancing, loans can also be offered with a comparatively low rate of interest and a much higher rate of acceptance.

Due to our unrivalled industry experience, we can provide you with access to the affordable and flexible asset refinance product you need.

How refinance asset finance can be used

Just as is the case with bridging loans, asset refinance can be used for absolutely any legal purpose whatsoever. Just a few examples of the more common and popular applications for this type of intelligent finance include:

• The development and expansion of businesses
• Covering the purchase costs of machinery, equipment and business assets
• Debt consolidation and restructuring of finances
• Funding new projects and business ventures of all sizes as quickly as possible
• Property extensions, refurbishments and remodelling efforts
• As an alternative to conventional bank loans, overdrafts and credit cards

The very best refinance asset finance products offer flexible terms and conditions that can be adjusted to suit the preferences and requirements of the borrower.

What’s more, credit reports and proof of income are seldom taken into account when considering asset refinance loan applications.

Asset refinancing made simple

Qualification for an asset refinance loan will typically be determined exclusively by the value of the asset or assets you are able to provide. Just as long as you are in complete and demonstrable ownership of the asset, it may be accepted by the lender.

Acceptable assets vary significantly from one lender to the next, though typical examples of qualifying assets include:

• Cars, vans and commercial vehicles of all kind
• Industrial vehicles, machinery and equipment
• Buses and coaches
• Lorries and haulage vehicles/equipment
• Boats and aircraft
• Manufacturing and plant equipment
• Office and IT equipment
• Engineering equipment
• Printing machinery
• Catering equipment and supplies
• Business equipment, electronics and machinery in general

Upon indicating which assets you are looking to use to secure an asset refinance loan, the lender will go about the process of obtaining an official valuation. At which time it will be made clear as to whether you qualify for the funds you require and exactly how much you can borrow.

As always, it is important to ensure that you keep up with your repayment obligations, or run the risk of surrendering your property to the lender permanently.