Top Lenders to Secure a £450,000 Asset Refinance Facility in 2026
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Top UK Lenders for £450,000 Asset Refinance
| Rank | Lender | Best for | Published loan range | Loan rate |
|---|---|---|---|---|
| 1 | Reward Funding | Established firms refinancing high-value machinery or plant portfolios | £100,000 to £5,000,000 | interest 0.99% to 3% monthly |
| 2 | Liberty Leasing | Mid-market businesses preferring annual-rate asset refinance | £10,000 to £2,000,000 | interest 11% to 16% annually |
| 3 | Lombard | Businesses needing flexible asset refinance up to £5m | Up to £5,000,000 | interest 4% to 11.5% monthly |
| 4 | Time Finance | Annual-rate refinance for larger capital releases from owned assets | Up to £5,000,000 | interest 5.5% to 13.5% annually |
| 5 | Metro Bank | Businesses wanting a high-street bank asset refinance comparison | £2,000 to £25,000,000 | interest 9.6% to 9.6% annually |
| 6 | NatWest Bank | Established firms with £300k turnover seeking bank refinance rates | £500 to £10,000,000 | interest 4.5% to 10.5% annually |
| 7 | Barclays | Businesses weighing bank asset refinance against specialist lenders | £1,000 to £25,000,000 | interest 8.5% to 14.9% annually |
| 8 | Nationwide Finance | Businesses near the £450k ceiling seeking monthly-rate refinancing | £10,000 to £500,000 | interest 4.5% to 11% monthly |
| 9 | Aldermore Asset finance | Businesses seeking specialist refinance across varied asset types | £1,000 to £10,000,000 | interest 5% to 15% annually |
| 10 | Close Brothers | Larger firms with £500k turnover needing bespoke asset refinance | £25,000 to £100,000,000 | bespoke 3.5% to 10% monthly |
Asset refinance lets businesses raise capital against equipment, machinery, vehicles or plant they already own outright, without surrendering use of those assets. It suits established companies that have built up valuable unencumbered assets and want to unlock working capital without selling them or diluting equity. A £450,000 facility can fund expansion, fulfil large contracts, or strengthen cash flow while keeping existing operations intact.
Choosing the right asset refinance lender means looking beyond the headline rate. The loan-to-value ratio lenders will offer against your asset types matters enormously — some specialise in heavy plant, others in commercial vehicles or manufacturing equipment. Repayment structure also varies: monthly interest or annualised rates affect total cost differently at the £450,000 level. Check whether the lender caps facilities at a level that accommodates your full refinancing need.
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: Low monthly rates and flexible drawdown make Reward Funding a practical choice for refinancing owned assets. Rates start below 1% monthly, which keeps servicing costs predictable. Lending against machinery, vehicles or plant, Reward releases working capital quickly. Expect asset valuation and legal checks as part of the security requirement.
Best next step: Compare asset refinance terms from Reward.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Rates from 0.99% monthly
- Facilities up to £5 million
- Funding within 24 hours
Need to know
- Asset valuation required
- Legal costs may apply
- Security tied to specific assets
Expert take
A specialist lender that prices competitively on well-maintained, productive assets. Reward suits established businesses where asset quality drives favourable terms. The rate band rewards lower-risk refinancing deals.
Source:https://rewardfunding.co.uk/
Liberty Leasing
Published loan range£10,000 to £2,000,000
Rate typeinterest 11% to 16% annually
Overview: Liberty Leasing refinances owned plant, vehicles and equipment with a straightforward asset-backed structure. Annual rates between 11% and 16% put it in the mid-market for cost. The lender moves quickly on standard asset classes, with funding possible in 24 hours. Underwriting focuses on asset condition and resale value.
Best next step: Check Liberty Leasing refinance rates.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Same-day funding possible
- Covers multiple asset types
- Straightforward asset-backed lending
Need to know
- 11% to 16% annual rates
- Asset eligibility checks apply
- Deposits may be needed
Expert take
A direct asset funder that prioritises asset quality over complex credit analysis. Liberty Leasing works well for businesses with clean-title equipment seeking a simple refinancing route. Speed and clarity define its process.
Lombard
Published loan rangeUp to £5,000,000
Rate typeinterest 4% to 11.5% monthly
Overview: With facilities reaching £5 million, Lombard handles substantial asset refinancing for established businesses. Monthly interest rates run from 4% to 11.5%, reflecting the asset type and risk profile. Part of the NatWest Group, Lombard brings institutional backing to refinancing deals. Funding can arrive in 24 hours for straightforward applications.
Best next step: Explore Lombard asset refinance options.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Up to £5 million available
- Institutional-grade lending
- Quick 24-hour turnaround
Need to know
- Rates from 4% monthly
- Asset condition scrutinised
- Group underwriting applies
Expert take
One of the UK's longest-standing asset finance houses, with deep experience in mid-to-large refinancing. Lombard's institutional strength means consistent terms and robust processes. Well suited to businesses with quality asset portfolios.
Source:https://www.lombard.co.uk/
Time Finance
Published loan rangeUp to £5,000,000
Rate typeinterest 5.5% to 13.5% annually
Overview: Businesses that combine asset refinancing with invoice discounting will find Time Finance's dual-product capability useful. Annual rates from 5.5% to 13.5% apply across facilities up to £5 million. The lender structures revolving credit lines around owned assets and unpaid invoices, releasing working capital from two sources. Underwriting considers both asset value and debtor quality.
Best next step: See Time Finance asset and invoice options.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Combined asset and invoice facilities
- Up to £5 million available
- Revolving credit structure
Need to know
- Dual-product underwriting required
- Debtor quality assessed
- Limits may be reviewed periodically
Expert take
A flexible funder that bridges asset refinancing with working capital solutions. Time Finance fits businesses wanting to unlock capital from both hard assets and receivables under one relationship. The combined approach can increase total facility size.
Source:https://www.timefinance.com/
Metro Bank
Published loan range£2,000 to £25,000,000
Rate typeinterest 9.6% to 9.6% annually
Overview: Metro Bank can write asset refinance at a flat 9.6% annual rate, offering cost certainty that variable-rate lenders cannot match. As a high-street bank, it brings regulated lending standards and relationship-based service to asset-backed deals. The loan range spans £2,000 to £25 million, so larger refinancing needs are well catered for. Bank underwriting means thorough affordability checks.
Best next step: Enquire about Metro Bank asset finance.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Fixed 9.6% annual rate
- Loans from £2,000 to £25m
- High-street banking standards
Need to know
- Bank underwriting is slower
- Personal guarantee often required
- Strong trading history expected
Expert take
A relationship-led high-street bank with a single-rate asset finance product. Metro Bank suits businesses that value face-to-face service and a transparent, fixed-cost structure over the cheapest headline rate.
Source:https://www.metrobankonline.co.uk/business/borrowing/
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NatWest Bank
Published loan range£500 to £10,000,000
Rate typeinterest 4.5% to 10.5% annually
Overview: NatWest's competitive annual rates for asset refinancing start at 4.5% for lower-risk deals. The bank's £10 million upper limit and broad product suite make it a credible option for refinancing machinery, vehicles or equipment. Businesses with strong trading records and clean credit will access the best pricing. Expect a full underwriting process including affordability assessment.
Best next step: Speak to NatWest about asset refinancing.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Rates from 4.5% annually
- Facilities up to £10 million
- Broad high-street product range
Need to know
- Full bank underwriting required
- Trading history scrutinised
- Personal guarantee may apply
Expert take
A major clearing bank whose asset finance rates reward strong credits. NatWest performs best for established businesses with clean accounts and valuable unencumbered assets. The process is thorough but terms are stable.
Source:https://www.natwest.com/business/loans-and-finance.html
Barclays
Published loan range£1,000 to £25,000,000
Rate typeinterest 8.5% to 14.9% annually
Overview: Barclays works with established businesses to refinance owned assets through its asset finance division. Annual rates range from 8.5% to 14.9%, with facilities available from £1,000 up to £25 million. The bank's product suite includes revolving credit and secured term loans, giving flexibility around how the refinance is structured. Expect bank-grade underwriting and security requirements.
Best next step: Request Barclays asset refinance details.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Facilities up to £25 million
- Multiple product structures
- Established high-street lender
Need to know
- 8.5% to 14.9% annual rates
- Security typically required
- Lengthy application process
Expert take
A global bank with a dedicated asset finance arm that handles straightforward and complex refinancing alike. Barclays suits businesses already banking with them or those needing a full-service relationship alongside asset-backed lending.
Nationwide Finance
Published loan range£10,000 to £500,000
Rate typeinterest 4.5% to 11% monthly
Overview: Nationwide Finance unlocks equity tied up in plant, machinery and commercial vehicles through straightforward asset refinancing. Monthly rates from 4.5% give businesses a clear view of servicing costs. The lender funds refinance arrangements from £10,000, making the product accessible to mid-sized asset portfolios. Asset valuation and condition reports form the core of the underwriting process.
Best next step: Review Nationwide Finance refinance terms.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Monthly rates from 4.5%
- Refinances multiple asset types
- Straightforward application
Need to know
- Valuation required for each asset
- Capped at £500,000 total
- Asset condition is key
Expert take
A focused asset refinance provider that keeps its process lean and asset-led. Nationwide Finance works for businesses with clearly valued machinery or vehicles where straightforward equity release is the goal. Simple in approach.
Aldermore Asset finance
Published loan range£1,000 to £10,000,000
Rate typeinterest 5% to 15% annually
Overview: Aldermore funds asset refinancing from £1,000 to £10 million, with annual rates between 5% and 15%. The bank's 48-hour turnaround is slightly slower than some rivals, but its broad appetite for different asset classes compensates. Aldermore lends against plant, machinery, commercial vehicles and specialist equipment. Credit decisions weigh business performance alongside asset valuations.
Best next step: Check Aldermore asset refinance rates.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Broad asset class acceptance
- Facilities up to £10 million
- Annual rates from 5%
Need to know
- 48-hour funding timeframe
- Full credit assessment required
- Asset valuation needed
Expert take
A challenger bank with a wide-ranging asset finance appetite that suits unusual or mixed asset portfolios. Aldermore's strength lies in assessing deals on their merits rather than applying rigid sector or asset-type restrictions.
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 structures refinance packages from £25,000, with bespoke monthly rates starting at 3.5%. The lender's £100 million upper limit makes it a serious contender for both mid-range and large-scale asset refinancing. It has particular depth in transport, manufacturing and construction assets. A 24-hour initial response keeps momentum on refinancing deals. Underwriting is thorough and asset-led.
Best next step: Explore Close Brothers refinance options.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Bespoke rates from 3.5% monthly
- Up to £100 million available
- Sector-specific expertise
Need to know
- £500k+ turnover preferred
- Full asset valuation required
- Mid-market focus
Expert take
A well-established asset finance house with deep experience in mid-market and larger transactions. Close Brothers brings sector expertise that adds real value in transport, manufacturing and construction refinancing.
Asset Finance Calculator
How asset refinance unlocks £450,000 from owned business assets
Asset refinance lets a business borrow against equipment, machinery, vehicles or plant it already owns outright. The lender advances a lump sum based on the current market value of the assets, while the business continues using them day to day. Repayments are spread across an agreed term, typically through fixed monthly instalments.
For a facility of £450,000, the asset pool needs to be worth enough to support that advance after the lender applies its loan-to-value ratio. Most lenders on this page publish maximum facilities well above this figure. Reward Funding offers asset finance from £100,000 to £5,000,000, while Lombard can fund up to £5,000,000. Close Brothers provides facilities from £25,000 up to £100,000,000. A £450,000 refinance sits comfortably within the mid-range for all of these providers.
Unlike a traditional loan, the asset itself secures the borrowing, which can make approval more straightforward for established businesses with a strong asset base.
What LTV ratios lenders apply to a £450,000 asset refinance
The loan-to-value ratio determines how much a lender will advance against an asset's worth. Different lenders apply different caps, and the ratio often varies by asset type. Hard assets like construction plant or specialist manufacturing equipment tend to attract higher LTVs than soft assets such as office fit-outs or IT hardware.
Among the lenders listed, Aldermore Asset finance advertises up to 100% LTV on qualifying assets. Close Brothers publishes a maximum of 90% LTV, while Reward Funding caps advances at 85% LTV. To raise £450,000 at an 85% LTV, your assets would need a combined valuation of roughly £530,000. At 90% LTV the required valuation drops to around £500,000.
Lenders will commission their own valuation rather than relying on book value. Age, condition and resale market all influence the final figure. Businesses with mixed asset pools may find different LTVs applied across different items within the same facility.
What underwriters assess on a £450,000 asset refinance application
Beyond the asset valuation itself, lenders look at trading history, turnover and director backing. Most asset refinance providers require a personal guarantee from directors, and this holds true across nearly every lender on this list including Reward Funding, Liberty Leasing, Time Finance and Close Brothers.
Turnover thresholds vary. NatWest Bank asks for a minimum of £300,000 in annual turnover, while Close Brothers sets a higher bar at £500,000. At the more accessible end, Aldermore Asset finance imposes no minimum turnover requirement and will consider businesses trading for just six months. Lombard requires at least one year of trading and £25,000 in turnover.
Lenders also review the asset's depreciation profile and the business's existing debt. A well-maintained asset with a strong secondary market provides better security. Where the asset is highly specialised or difficult to resell, underwriters may reduce the LTV or decline outright regardless of book value.
Comparing rates and repayment structures for a £450,000 refinance facility
Rates on asset refinance are quoted either monthly or annually, and the distinction matters when comparing cost. Reward Funding publishes rates from 0.99% to 3% per month. Lombard sits in the 4% to 11.5% per month range, while Close Brothers offers bespoke pricing from 3.5% to 10% per month. On an annual basis, Liberty Leasing quotes 11% to 16% and Time Finance ranges from 5.5% to 13.5%.
The table below gives a snapshot of how three lenders compare on key terms relevant to a £450,000 refinance:
| Lender | Maximum facility | Rate range | Max LTV |
|---|---|---|---|
| Reward Funding | £5,000,000 | 0.99% – 3% monthly | 85% |
| Close Brothers | £100,000,000 | 3.5% – 10% monthly | 90% |
| Time Finance | £5,000,000 | 5.5% – 13.5% annually | Not confirmed |
Term lengths also differ. Metro Bank offers up to 30 years, while Aldermore and Close Brothers cap terms at seven years. Shorter terms mean higher monthly payments but lower total interest cost.
