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Chattel Mortgage - Apply Now
A Chattel Mortgage is a loan used to buy movable personal property, like a car or equipment, where the item itself serves as security for the loan. It's a simple way to own what you need while paying over time. Want to learn more about smart financing options? Just ask!
- Fastest and easiest application process
- Dedicated support
- Loan disbursed within 24 hours
- No additional charges for early repayment
What are the benefits of Chattel Mortgage?
A Chattel Mortgage is a financing option that allows borrowers to purchase movable assets, such as vehicles or equipment, while using the asset itself as collateral. This arrangement can be particularly beneficial for businesses looking to acquire necessary tools without tying up cash flow, offering both flexibility in payment terms and potential tax advantages.
Flexibility in financing
Quick asset acquisition
Lower interest rates
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What are the different types of Chattel Mortgage?
Specific Security Chattel Mortgage
A mortgage where a specific movable asset is used as collateral.
Floating Security Chattel Mortgage
A mortgage that covers a group or class of assets that may change over time.
Legal Chattel Mortgage
A mortgage where legal ownership transfers to the lender until repayment.
What is a Chattel Mortgage?
What is a Chattel Mortgage?
A chattel mortgage is a loan used to buy movable personal property—like a manufactured home, business equipment, or vehicles—where the property being bought acts as the collateral for the loan. If the borrower doesn’t pay back the loan, the lender can take back the property.
Types of Chattel Mortgage
There are different types of chattel mortgages depending on what is being bought, such as home chattel mortgages (for movable homes), equipment chattel mortgages (for business machinery), vehicle chattel loans (for cars/trucks), agricultural chattel loans (for farm equipment and livestock), and consumer goods chattel mortgages (for electronics and appliances).
Key Features and Process
Chattel mortgages are generally faster and simpler than traditional real estate mortgages. The lender usually holds legal ownership or a lien on the property until the loan is paid off, and if the borrower defaults, the lender can repossess the asset. Loan terms, interest rates, and requirements can be different from loans for real estate.
Real Scenarios
Construction Company Needing Fast Working Capital
Situation
A construction firm had a short-term cash gap before a large invoice was paid and needed £85,000 to cover materials and payroll.
Challenge
Traditional bank applications were too slow; they needed a decision and funds within days.
Outcome
Funding Agent matched them with a lender; they received a working capital facility and bridged the gap until the invoice was paid.
Ecommerce Business Preparing for Peak Season
Situation
An online retailer needed around £120,000 to stock up ahead of Black Friday and the Christmas rush.
Challenge
They wanted flexible terms and a quick turnaround so stock could be ordered in time.
Outcome
Through Funding Agent they secured a facility, placed orders in time and managed peak demand without cash flow stress.
Marketing Agency Using Invoice Finance
Situation
A marketing agency had strong clients and reliable invoices but often waited 60–90 days for payment.
Challenge
They needed to unlock cash tied up in unpaid invoices to pay staff and take on new projects.
Outcome
Funding Agent connected them with an invoice finance provider; they now access funds against approved invoices and smooth out cash flow.
Property Developer Using Bridging Finance
Situation
A developer needed short-term finance to complete a purchase before selling an existing property.
Challenge
They required a fast decision and flexible terms to align with the sale timeline.
Outcome
Funding Agent matched them with a bridging lender; they completed the purchase and repaid the facility when the sale completed.
FAQ’S
What is a chattel mortgage in marine finance?
Can I use a chattel mortgage to finance an aircraft?
Are chattel mortgages available for business machinery?
Can I structure my chattel mortgage for flexible repayments?
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