Asset-Based Loans: What Is Asset Finance?

Asset finance explained

Depending on your current circumstances and intended use for the loan, asset loans could represent an 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 are typically available from £5,000 up to £10 million.

How does asset-based lending work?

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:

1. 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.
2. 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.
3. 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.
4. 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 to your account.

One of the biggest benefits of asset finance products is that 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 financing 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 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 into repayment difficulties in order to discuss the available options and arrange a mutually beneficial solution.

Accepted assets

A wide variety of assets and personal property can be used to guarantee close asset financing. Common examples include antiques, fine art, cars and other vehicles, homes, business properties, land, jewellery, and so on.

For more information on acceptable assets or to discuss any aspect of asset-based loans, get in touch with a member of the team today for an obligation-free consultation.