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Lease Finance · Speed & Process

The Lease Finance 100.
Speed & Process

Focus: Timelines, applications, and the legal process.

16+Questions
100%Expert Answers
FCARegulated
How does lease finance compare to bank loans?
TL;DR Lease finance and bank loans are key funding options for businesses. Learn the differences in ownership, flexibility, tax treatment, and risk to decide which structure is best for acquiring assets.
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What’s the difference between lease finance and asset finance?
TL;DR Confused about lease finance versus asset finance? We break down the key differences, focusing on ownership, accounting, risk, and structure, helping UK businesses choose the right equipment funding solution.
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What is the best lease finance option for small businesses?
TL;DR Comparing finance lease vs operating lease for small UK businesses. Learn which leasing option is best suited for managing cash flow, tax implications, and ownership goals.
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How does lease finance help with cash flow management?
TL;DR Lease finance is a key tool for UK businesses seeking better cash flow management. Learn how leasing essential equipment and assets avoids large upfront costs and spreads payments efficiently over time, preserving working capital.
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How does leasing compare with outright purchasing for vehicles?
TL;DR Comparing vehicle leasing (PCH/BCH) vs. outright buying offers distinct financial paths. Understand monthly costs, depreciation, ownership rights, and long-term flexibility.
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Are there mileage limits on vehicle lease finance?
TL;DR Vehicle lease finance always includes mileage limits. Discover how these caps affect monthly payments, the calculation of excess mileage charges, and the importance of accurately estimating your annual driving needs to avoid unexpected costs.
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Why is lease finance beneficial for seasonal businesses?
TL;DR Seasonal businesses face uneven cash flow. Lease finance offers flexibility, helping manage costs during quiet months and scaling quickly for peak demand. Learn how leasing equipment protects capital.
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Can electric vehicles be financed through lease finance?
TL;DR Electric vehicles (EVs) are commonly financed using lease agreements like PCH and BCH. Explore how can electric vehicles be financed through lease finance, the main UK options, costs, and key considerations.
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Are there government schemes supporting lease finance?
TL;DR Are there UK government schemes supporting lease finance? Yes, schemes like the Recovery Loan Scheme (RLS) often cover asset finance and equipment leasing for eligible UK businesses.
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What is the process for ending a lease finance agreement?
TL;DR Ending a lease finance agreement involves checking contract terms, calculating early settlement figures, and managing asset returns. Learn the compliant process for termination in the UK.
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What is the impact of interest rates on lease finance?
TL;DR Understand how fluctuating UK interest rates affect the cost and structure of lease finance agreements for businesses, including hire purchase and operating leases.
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What are the tax advantages of lease finance for UK businesses?
TL;DR Unlock tax efficiency! Learn how UK businesses can leverage lease finance to deduct payments, manage VAT, and improve cash flow. Understand operational vs. finance leases.
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Can lease finance be included in capital allowances?
TL;DR Understanding how lease finance interacts with UK Capital Allowances (CAs) is complex. Learn the rules for operating leases vs. finance leases and how to claim tax relief.
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What is the typical duration of a lease finance agreement?
TL;DR Understanding the duration of a lease finance agreement is crucial. Typical durations range from 2 to 5 years, depending on the asset, type of lease (finance or operating), and business needs.
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What happens if a business needs to terminate a lease early?
TL;DR Need to end a commercial lease early? Understand the legal routes, financial penalties, and negotiation strategies available in the UK. We explain surrender, assignment, and break clauses.
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How does ownership transfer work in lease finance?
TL;DR Understand how ownership transfer works in UK lease finance agreements. We detail Hire Purchase (HP) vs. Finance Lease, residual value calculations, and legal steps to acquire assets.
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Promise Money is a broker not a lender. Therefore we offer lenders representing the whole of market for mortgages, secured loans, bridging finance, commercial mortgages and development finance. These loans are secured on property and subject to the borrowers status. We may receive commissions that will vary depending on the lender, product, or other permissable factors. The nature of any commission will be confirmed to you before you proceed.

More than 50% of borrowers receive offers better than our representative examples

The %APR rate you will be offered is dependent on your personal circumstances.

Mortgages and Remortgages

Representative example

Borrow £270,000 over 300 months at 7.1% APRC representative at a fixed rate of 4.79% for 60 months at £1,539.39 per month and thereafter 240 instalments of £2050.55 at 8.49% or the lender’s current variable rate at the time. The total charge for credit is £317,807.66 which includes £2,500 advice / processing fees and £125 application fee. Total repayable £587,807.66

Secured / Second Charge Loans

Representative example

Borrow £62,000 over 180 months at 9.9% APRC representative at a fixed rate of 7.85% for 60 months at £622.09 per month and thereafter 120 instalments of £667.54 at 9.49% or the lender’s current variable rate at the time. The total charge for credit is £55,730.20 which includes £2,660 advice / processing fees and £125 application fee. Total repayable £117,730.20

Unsecured Loans

Representative example

Annual Interest Rate (fixed) is 49.7% p.a. with a Representative 49.7% APR, based on borrowing £5,000 and repaying this over 36 monthly repayments. Monthly repayment is £243.57 with a total amount repayable of £8,768.52 which includes the total interest repayable of £3,768.52.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME

REPAYING YOUR DEBTS OVER A LONGER PERIOD CAN REDUCE YOUR PAYMENTS BUT COULD INCREASE THE TOTAL INTEREST YOU PAY. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

Promise Money is a trading style of Promise Solutions Ltd – Company number 04822774
Promise Solutions, Fullard House, Neachells Lane, Wolverhampton, WV11 3QG

Authorised and regulated by the Financial Conduct Authority – Number 681423
The Financial Conduct Authority does not regulate some forms of commercial / buy-to-let mortgages

Website www.promisemoney.co.uk