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With hire purchase, the clinic generally selects the specific equipment and supplier, and the lender reviews affordability, credit profile, and the equipment’s value. Some deals may request a deposit depending on equipment value and risk. Initial decisions can range from same day to a few working days for straightforward cases, while full underwriting and documentation can extend the process to around 1 to 3 weeks. Ownership commonly transfers to the clinic at the end of the HP agreement, subject to conditions.

In a lease finance arrangement, you apply with the equipment details and supplier documentation. The lender assesses viability and your ability to make lease payments, plus equipment suitability and value. Leasing pricing is often expressed via lease rental rather than a single interest figure, and effective rates or representative APRs can fall broadly within asset finance ranges (commonly around 6.9% to 18% APR). Funding timelines often sit around 1 to 2 weeks to completion, depending on documentation and any manual credit checks.

Refinance/top-up deals usually require proof of ownership and information for the lender to value the equipment, alongside business accounts and evidence to support affordability. Pricing depends on factors such as equipment age and condition, so a final rate is quoted after valuation. Decision times are often around 1 to 3 weeks due to the valuation and documentation checks, and complex asset portfolios can take longer. Once agreed and documented, funds can be released to the clinic, or used to settle agreed items/commitments.