Asset finance

Santander Asset Finance can help you to invest in the assets you need to take your business to the next level.

Available to

  • Businesses who rely on assets such as cars, yellow plant and other heavy machinery
  • Businesses looking to invest in assets ahead of expansion

Key features:

  • Simple and flexible way to spread the cost of buying business assets
  • Fixed payments at a frequency you choose
  • Supported by professional accredited and experienced Relationship Directors who can look to understand your business investment needs
  • Quick credit decisions for straightforward assets under £125,000, with a binding credit decision in two hours.
Asset Finance Key Features

What is asset finance?

Asset finance is a simple and flexible form of medium term borrowing. It can help you buy a wide range of asset types including equipment and vehicles through the below facilities:

    Hire purchase (HP)

    With HP you have the option to buy and get legal ownership of the assets included in your contract for a nominal fee.

    Leasing (finance or operating lease)

    When you reach the end of your contract you’ll have three options:

    Leasing finance

    1. Pay for a secondary rental period and keep using the assets. This is something that might have been agreed with you before the start of the contract. If not, it will normally be a nominal amount to be paid annually in advance.
    2. You can sell the assets on behalf of Santander Asset Finance and keep 99% of the sale proceeds as a rebate of rentals.
    3. You can ask Santander Asset Finance to dispose of the assets, which would end all future obligations under the lease contract.

    Operating lease

    1. You can return the asset.
    2. Keep using the asset in return for extension rentals over a set period of time.
    3. You can take on the role of sales agent for us and be responsible for meeting any difference between our financial interest and the sales proceeds of the asset.
    Loans

    Loans via Santander Asset Finance can be secured or unsecured:

    • Secured loans via a chattel mortgage are available across a wide range of assets
    • Unsecured loans only apply to the financing of Professional Indemnity Insurance (PII) Premiums and have a maximum repayment period of 12 months.

    What are the benefits of asset finance?

    • Flexibility – you choose when and how often you want to pay, from monthly, quarterly and annually through to seasonal profiles
    • Get more out of your investment – through the preservation of working capital
    • Incremental borrowing capacity - leaving existing credit facilities intact, without affecting any existing agreements
    • Peace of mind – not repayable on demand like a bank overdraft
    • Better risk management – helping your business avoid the risks associated with technological advances leaving your assets out of date
    • Tax effectiveness – makes use of the Annual Investment allowance of up to £200,000, and gives tax benefits through ‘capital allowances’ on certain types of asset finance. Please speak to your Asset Finance Director for more information.
    Benefits of Asset Finance

    What can I finance?

    You can finance almost any asset used by your business, including:

    • Vehicles
    • Plant and machinery
    • IT hardware or software
    • Office equipment / business machines

    Why choose Santander Asset Finance?

    Whether or not you bank with us, our role is to help you stay competitive in the market.

    Santander Asset Finance is well established, and our national network of accredited and experienced Relationship Directors have helped thousands of companies across the UK to buy everything from a Director’s car to complete production lines.

    We will support you in making the best financing decisions to help your business prosper, and turn your growth plans into a reality.

    How do I get asset finance?

    1. Get in touch with your local business or corporate Relationship Director, or call 020 8515 1031
    2. Talk to us about your capital expenditure or asset finance needs
    3. We look into the best funding solutions to suit your requirements
    4. We provide you with the documentation and payment to fund your chosen assets
    5. The assets are then available to use within your business.

    Products and services are subject to eligibility, status, terms and conditions and availability. The right to decline any application is reserved. ANY PROPERTY USED AS SECURITY, WHICH MAY INCLUDE YOUR HOME, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP YOUR LOAN REPAYMENTS.

    Related solutions
    Invoice finance
    Overdrafts