Member Article

What is 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 £10,000 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.

As an independent broker with unrivalled industry experience, we can provide you with access to the affordable and flexible asset refinance product you need.

What is refinance asset finance used for?

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 have 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 kinds
  • Industrial vehicles, machinery, and equipment
  • Buses and coaches
  • Lorries and haulage vehicles and 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.

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

This was posted in Bdaily's Members' News section by iCONQUER Ltd .

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