Top 10 Lenders for £350,000 Asset Refinance in 2026
.png)
Top 10 Lenders for £350,000 Asset Refinance
| Rank | Lender | Best for | Published loan range | Loan rate |
|---|---|---|---|---|
| 1 | Reward Funding | Releasing capital from heavy plant or production machinery | £100,000 to £5,000,000 | interest 0.99% to 3% monthly |
| 2 | Liberty Leasing | Quick refinance decisions on mixed vehicle and equipment portfolios | £10,000 to £2,000,000 | interest 11% to 16% annually |
| 3 | Lombard | Mid-market firms refinancing major plant or commercial vehicle fleets | Up to £5,000,000 | interest 4% to 11.5% monthly |
| 4 | Time Finance | Flexible refinance terms on existing equipment and machinery | Up to £5,000,000 | interest 5.5% to 13.5% annually |
| 5 | Admiral leasing | Smaller-scale asset refinance with rapid funding decisions | From £1,000 | interest 5.5% to 13.5% annually |
| 6 | Barclays | High-value refinance through a major UK clearing bank | £1,000 to £25,000,000 | interest 8.5% to 14.9% annually |
| 7 | Acorn Business Finance | Mid-range plant and machinery refinance for established operators | £15,000 to £5,000,000 | interest 8% to 15% annually |
| 8 | Propel Finance | Included for comparison; wide asset acceptance from low values | From £500 | interest 5% to 20% annually |
| 9 | Aldermore Asset finance | Larger refinance deals for businesses trading six months plus | £1,000 to £10,000,000 | interest 5% to 15% annually |
| 10 | Close Brothers | High-turnover firms refinancing substantial asset pools at scale | £25,000 to £100,000,000 | bespoke 3.5% to 10% monthly |
Asset refinance lets you borrow against plant, machinery, vehicles or equipment your business already owns outright. The lender takes a charge over the assets and advances a lump sum — typically 70% to 80% of current market value — while you keep using them day to day. It suits established businesses that have built up a significant asset base and want to release tied-up capital without selling productive equipment. At £350,000, this often funds expansion, stock purchases or cashflow smoothing.
Comparing lenders goes beyond the headline rate. The loan-to-value ratio each lender offers on your specific asset type directly affects how much capital you can unlock. Check whether the lender uses fixed or variable-rate structures, as this shapes long-term repayment certainty. Facility terms, early settlement charges and whether seasonal payment profiles are available all matter for a £350,000 refinance. Established lenders with experience in your asset class typically process valuations faster and offer more realistic LTV assessments.
Important note:
Funding Agent
Published loan rangeFrom £10,000 to up to £1,000,000
Rate typeInterest from 6.8% annually
Why it is included:It is included because many business owners need to compare several finance routes before choosing where to apply.
Funding Agent can help businesses compare suitable options across a lender panel, especially when eligibility depends on turnover, sector, trading history, credit strength and available documents.
Best use case: When the borrower wants to avoid applying to one lender at a time.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Why it stands out
- Useful when a business wants to compare lender fit rather than guess which lender to apply to first.
- Can help position the application around the funding purpose, trading profile and available documents.
- Works well as a conversion route for readers who are unsure whether a direct lender will approve a larger unsecured facility.
Need to know
- Funding Agent is a broker, not a lender.
- The lender, not Funding Agent, sets the final rate, term, fees and approval decision.
- The best match may be unsecured, secured, revolving credit, invoice finance or another product depending on the case.
Expert take
Funding Agent is a useful honourable mention for business owners who want to compare lender options before submitting a full application. A larger unsecured loan is not always approved by the first lender a business finds, so understanding lender fit early can reduce wasted time and avoid unnecessary declines.
Reward Funding
Published loan range£100,000 to £5,000,000
Rate typeinterest 0.99% to 3% monthly
Overview: A revolving credit facility secured against your existing assets lets you refinance plant, machinery or vehicles and draw funds as working capital needs arise, rather than taking a fixed lump sum. The structure suits businesses wanting ongoing flexibility alongside a capital release. Interest costs range from 0.99% to 3% monthly, though valuations and legal fees may apply.
Best next step: Check eligibility for revolving asset refinance
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Revolving facility matches seasonal cash flow needs
- Funds available within 24 hours
- Facility sizes from £100,000 to £5 million
Need to know
- Asset valuations required before approval
- Monthly interest from 0.99% to 3%
- Legal and arrangement costs may apply
Expert take
A lender that structures revolving credit lines against owned business assets. For a £350,000 asset refinance, the flexible drawdown model works well if working capital needs fluctuate. Monthly interest keeps short-term use affordable.
Source:https://rewardfunding.co.uk/
Liberty Leasing
Published loan range£10,000 to £2,000,000
Rate typeinterest 11% to 16% annually
Overview: Funding decisions within 24 hours make this lender a practical choice when you need to unlock capital from owned equipment quickly. Liberty Leasing refinances vehicles, plant and machinery, turning existing assets into working capital at annual rates from 11% to 16%. The speed comes with a trade-off: rates sit above some competitors and asset eligibility checks will apply.
Best next step: Compare asset refinance rates from Liberty Leasing
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Decisions within 24 hours
- Refinances vehicles, plant and machinery
- Facilities from £10,000 to £2 million
Need to know
- Annual interest from 11% to 16%
- Asset condition and age affect eligibility
- Deposits or part-payments may be required
Expert take
A fast-moving asset finance provider with quick decision turnaround. For a £350,000 refinance needing swift completion, the 24-hour funding speed keeps momentum behind the application. Best suited to businesses with modern, well-maintained assets.
Lombard
Published loan rangeUp to £5,000,000
Rate typeinterest 4% to 11.5% monthly
Overview: With facilities reaching £5 million, Lombard handles asset refinance at scale, so releasing capital against owned machinery or vehicles follows a well-established process. Funding can be arranged within 24 hours and monthly rates range from 4% to 11.5%. The lender expects assets to meet age and condition criteria, and valuations form part of the approval process.
Best next step: Explore Lombard asset refinance for owned equipment
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Facilities available up to £5 million
- Funding arranged within 24 hours
- Long-established asset finance provider
Need to know
- Monthly interest from 4% to 11.5%
- Asset age and condition assessed
- Valuation costs may be incurred
Expert take
A large-scale asset finance lender with capacity for substantial refinancing deals. For £350,000, Lombard's established processes and broad appetite make it a dependable route for unlocking capital from plant and machinery.
Source:https://www.lombard.co.uk/
Time Finance
Published loan rangeUp to £5,000,000
Rate typeinterest 5.5% to 13.5% annually
Overview: A lender that blends asset refinance with invoice finance under one roof, which helps if you are weighing whether to unlock capital from equipment or receivables. Time Finance can refinance owned assets up to £5 million, with annual rates between 5.5% and 13.5% and decisions within 24 hours. The combined product range suits businesses wanting a single finance partner.
Best next step: See Time Finance asset refinance options
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Combines asset and invoice finance
- Decisions within 24 hours
- Facilities up to £5 million
Need to know
- Annual interest from 5.5% to 13.5%
- Invoice quality affects combined terms
- Asset valuations may be required
Expert take
A dual-specialist covering both asset refinance and invoice finance. For a £350,000 capital release, blending equipment-backed and receivables-backed funding can optimise the overall cost for businesses that hold both asset types.
Source:https://www.timefinance.com/
Admiral leasing
Published loan rangeFrom £1,000
Rate typeinterest 5.5% to 13.5% annually
Overview: From a £1,000 starting point, Admiral leasing scales up to handle larger asset refinance deals, processing applications in as little as four hours. Annual rates range from 5.5% to 13.5%. The lender may expect strong trading history and could request a personal guarantee as part of the security package for higher-value facilities.
Best next step: Request an asset refinance quote from Admiral
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Decisions in as little as 4 hours
- Annual rates from 5.5% to 13.5%
- Refinances equipment, vehicles and machinery
Need to know
- Strong trading history usually expected
- Personal guarantee may be requested
- Asset eligibility checks apply
Expert take
A responsive finance provider that prioritises speed, with decisions possible within four hours. For a £350,000 refinance, Admiral suits businesses that need capital released urgently and can demonstrate consistent trading performance to support the application.
Barclays
Published loan range£1,000 to £25,000,000
Rate typeinterest 8.5% to 14.9% annually
Overview: As a high-street bank with an asset finance arm, Barclays brings institutional stability to refinancing owned plant, machinery or vehicles. Facilities range from £1,000 to £25 million, with annual rates between 8.5% and 14.9%. Bank processes can mean longer assessment times than specialist lenders, and full underwriting including trading history review is standard.
Best next step: Check Barclays asset refinance eligibility
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Institutional lender with broad reach
- Facilities from £1,000 to £25 million
- Can handle complex asset portfolios
Need to know
- Bank underwriting can be slower
- Strong trading history typically needed
- Personal guarantee may be required
Expert take
A mainstream bank lender offering asset refinance with institutional backing. For a £350,000 facility, Barclays suits established businesses that value banking relationship stability and can meet full underwriting requirements.
Acorn Business Finance
Published loan range£15,000 to £5,000,000
Rate typeinterest 8% to 15% annually
Overview: Acorn Business Finance shapes asset refinance around how you intend to use the released capital, offering term loan and revolving credit structures against owned plant, machinery or vehicles. Annual rates between 8% and 15% and funding within 24 hours make it a practical route. The broad product set means the structure can match your working capital plans.
Best next step: Compare Acorn asset refinance terms
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Facilities from £15,000 to £5 million
- Funding available within 24 hours
- Multiple product structures available
Need to know
- Annual interest from 8% to 15%
- Strong trading history expected
- Asset valuations and security checks apply
Expert take
A flexible finance provider with a wide product range spanning term loans and revolving facilities. For a £350,000 refinance, Acorn's ability to tailor structure around the end use of capital adds practical value for businesses with specific cash flow needs.
Propel Finance
Published loan rangeFrom £500
Rate typeinterest 5% to 20% annually
Overview: Propel Finance considers asset refinance applications across a wide risk spectrum, with annual rates spanning 5% to 20% reflecting that breadth. Facilities start at £500 and funding typically takes two to five days, with asset condition a key factor in the approval decision. The rate banding means both stronger and weaker credit profiles can secure a quote.
Best next step: See Propel Finance asset refinance rates
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Accepts facilities from £500 upwards
- Annual rates starting from 5%
- Refinances equipment and machinery
Need to know
- Funding takes two to five days
- Rates can reach 20% annually
- Asset condition affects eligibility
Expert take
A broad-spectrum asset finance provider willing to consider a wide range of deal sizes and risk profiles. For a £350,000 refinance, Propel's flexibility on rate banding means both strong and weaker credit profiles can find a workable quote.
Aldermore Asset finance
Published loan range£1,000 to £10,000,000
Rate typeinterest 5% to 15% annually
Overview: Known for straightforward asset finance, Aldermore refinances owned plant, machinery and vehicles with facilities from £1,000 to £10 million. Annual rates typically range from 5% to 15%, and funding decisions arrive within 48 hours. The lender's established processes mean underwriting follows a well-tested path, though standards remain thorough.
Best next step: Explore Aldermore asset refinance today
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Facilities from £1,000 to £10 million
- Annual rates from 5% to 15%
- Established and well-known lender
Need to know
- Funding decisions within 48 hours
- Thorough underwriting standards apply
- Asset valuations likely required
Expert take
An established asset finance lender with broad product coverage and predictable processes. For a £350,000 refinance, Aldermore's consistency makes it a reliable route to releasing capital from owned equipment.
Source:https://www.aldermore.co.uk/business/business-finance/asset-finance/
Close Brothers
Published loan range£25,000 to £100,000,000
Rate typebespoke 3.5% to 10% monthly
Overview: Close Brothers targets established mid-market businesses, with asset refinance facilities from £25,000 to £100 million and bespoke monthly rates between 3.5% and 10%. The lender has particular experience in transport, manufacturing and construction, sectors where high-value assets are commonplace. Bespoke pricing means each quote is individually underwritten against the asset portfolio.
Best next step: Check Close Brothers refinance terms
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Facilities up to £100 million available
- Bespoke rates from 3.5% monthly
- Deep sector experience in asset-heavy industries
Need to know
- Minimum facility of £25,000 applies
- Bespoke pricing means tailored quotes only
- Established mid-market businesses preferred
Expert take
A long-established lender focused on mid-market businesses with substantial asset bases. For a £350,000 refinance, Close Brothers brings deep sector knowledge in transport, manufacturing and construction. The bespoke pricing model rewards businesses with strong asset quality.
Asset Finance Calculator
How asset refinance unlocks capital from equipment your business already owns
Asset refinance lets you borrow against plant, machinery, vehicles or equipment you already own outright. The lender takes security over the assets and advances a lump sum, typically up to an agreed percentage of their market value. Your business continues using the assets as normal while repaying the facility over a fixed term.
For a £350,000 refinance, you need assets with sufficient equity and a clear ownership record. Lenders will want proof of ownership, maintenance history and usually an independent valuation on higher-value equipment. Established businesses with well-maintained machinery tend to secure the most competitive terms.
Unlike hire purchase or leasing, asset refinance does not fund new purchases. It releases capital already tied up in your balance sheet, making it a practical route for funding working capital, growth initiatives or consolidating existing debt without selling productive assets.
LTV ratios explained: what lenders will advance against plant, machinery and vehicles
The loan-to-value ratio determines how much a lender will advance against an asset’s market worth. Different lenders apply different caps, and the asset type itself influences the percentage offered. Heavy plant and specialist machinery with strong resale markets often attract higher LTVs. Commercial vehicles and standard equipment may receive lower advances where depreciation is steep.
| Lender | Published max LTV |
|---|---|
| Reward Funding | Up to 85% |
| Close Brothers | Up to 90% |
| Propel Finance | Up to 100% |
| Aldermore | Up to 100% |
A higher LTV means more capital released against the same assets, though it may come with a higher rate or shorter term. For a £350,000 target, a 100% LTV requires assets worth at least £350,000, while an 85% LTV needs roughly £412,000 in asset value to release the same sum.
Practical tips for maximising the amount you can release through refinancing existing assets
Get an accurate valuation first. Lenders assess market value, not book value. Well-maintained equipment with verifiable service histories commands higher advances. If assets are nearing the end of their useful life, refurbishment before valuation may improve the outcome.
Compare LTV caps carefully. As shown above, some lenders such as Propel Finance and Aldermore can advance up to 100% of asset value, while others cap at 85% or 90%. A seemingly small LTV difference can mean tens of thousands of pounds more or less released on a £350,000 facility.
Consider bundling multiple assets. Refinancing a fleet of vehicles or a suite of machinery together often simplifies the process and may help negotiate better terms than refinancing individual items piecemeal.
Have your paperwork ready. Proof of outright ownership, insurance records and maintenance logs speed up underwriting and signal lower risk to credit teams.
Refinancing existing assets vs financing new equipment: key differences for established businesses
Asset refinance and new equipment finance serve different purposes, though the same lenders often provide both. New asset finance typically funds a specific purchase, with the asset acting as security from day one. The lender pays the supplier directly and you repay over time.
Refinancing existing assets, by contrast, releases cash your business can use for any legitimate purpose. You are not tied to a supplier invoice or a single piece of kit. This flexibility matters for established businesses that need working capital, want to fund marketing, hire staff or pursue an acquisition without diluting equity.
The rate structures may differ too. Where Lombard quotes 4% to 11.5% per month and Reward Funding ranges from 0.99% to 3% per month on asset finance, your existing relationship and the quality of the assets being refinanced will heavily influence the rate you are offered. Established businesses with strong trading histories and well-maintained assets typically access pricing at the lower end of published ranges.
