Top 10 Lenders for £550,000 Asset Refinance in the UK (2026)
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Top 10 lenders for £550,000 asset refinance
| Rank | Lender | Best for | Published loan range | Loan rate |
|---|---|---|---|---|
| 1 | Reward Funding | Established businesses raising capital against plant or machinery | £100,000 to £5,000,000 | interest 0.99% to 3% monthly |
| 2 | Liberty Leasing | Companies seeking annual-rate refinance across mixed asset classes | £10,000 to £2,000,000 | interest 11% to 16% annually |
| 3 | Lombard | Businesses with 12+ months trading seeking larger asset refinance | Up to £5,000,000 | interest 4% to 11.5% monthly |
| 4 | Time Finance | Established firms wanting annual repayments on higher-value refinance | Up to £5,000,000 | interest 5.5% to 13.5% annually |
| 5 | Metro Bank | Asset-rich firms seeking bank-backed refinance at a fixed rate | £2,000 to £25,000,000 | interest 9.6% to 9.6% annually |
| 6 | NatWest Bank | Companies with solid turnover needing high-street bank asset refinance | £500 to £10,000,000 | interest 4.5% to 10.5% annually |
| 7 | Barclays | Larger corporates comfortable with bank lending for asset refinance | £1,000 to £25,000,000 | interest 8.5% to 14.9% annually |
| 8 | Novuna | Trading businesses seeking monthly-rate refinance for owned assets | £10,000 to £5,000,000 | interest 4.5% to 12.5% monthly |
| 9 | Aldermore Asset finance | Firms wanting flexible annual-rate refinance across varied asset types | £1,000 to £10,000,000 | interest 5% to 15% annually |
| 10 | Close Brothers | Larger established businesses requiring bespoke asset refinance terms | £25,000 to £100,000,000 | bespoke 3.5% to 10% monthly |
Asset refinance allows an established business to release capital from equipment, vehicles or machinery it already owns outright. A lender advances funds against the value of these existing assets, turning illiquid plant into working capital without the business losing operational use of them. For a company with at least two years of trading and a strong asset base, this route can improve cash flow or fund growth without diluting equity or taking on unsecured debt.
Comparing asset refinance lenders at the £550,000 level goes well beyond the headline rate. Loan-to-value ratios differ between funders, so the amount you can raise against the same asset pool will vary. Some lenders specialise in specific asset classes such as heavy plant or commercial vehicles, while others take a broader view. Repayment structures can be fixed, seasonal or balloon to match your cash cycle. The speed from valuation to drawdown also matters when you need capital released on a timeline.
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: Monthly rates from 0.99% keep borrowing costs predictable when refinancing existing plant, machinery or vehicles. Reward Funding lends against owned assets at competitive pricing, with a revolving credit line structure that lets you draw funds as needed. The trade-off is that a full asset valuation and legal review will be required before completion.
Best next step: See if your assets qualify with Reward Funding
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Revolving credit draws against refinanced assets
- Monthly rates from 0.99% on larger facilities
- Funds released within 24 hours of approval
Need to know
- Asset valuation required before completion
- Legal costs may apply to the facility
- Funding tied to specific eligible assets
Expert take
An asset-based lender that builds revolving facilities around owned machinery and equipment. For £550,000 asset refinance, the low monthly rate and flexible drawdown suit businesses needing ongoing working capital, not a one-off lump sum.
Source:https://rewardfunding.co.uk/
Liberty Leasing
Published loan range£10,000 to £2,000,000
Rate typeinterest 11% to 16% annually
Overview: Decisions within 24 hours mean you are not left waiting when capital release becomes urgent. Liberty Leasing refinances existing equipment, vehicles and machinery at annual rates from 11%, funding up to £2 million. The lender suits businesses that need a straightforward refinance with minimal delay, though asset eligibility checks still apply.
Best next step: Check your asset eligibility with Liberty Leasing
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Funding decisions within 24 hours
- Refinances vehicles, plant and equipment
- Facilities available from £10,000 to £2 million
Need to know
- Asset valuation may be required
- Annual rates start from 11%
- Specific asset eligibility criteria apply
Expert take
A straightforward asset finance provider with fast decisions for time-sensitive refinancing. For £550,000 against existing machinery or vehicles, the quick turnaround suits businesses where speed matters more than securing the lowest headline rate.
Lombard
Published loan rangeUp to £5,000,000
Rate typeinterest 4% to 11.5% monthly
Overview: Funding stretches to £5 million, giving established businesses the headroom to refinance multiple high-value assets in one facility. Lombard, part of NatWest Group, lends against plant, machinery, commercial vehicles and agricultural equipment with monthly rates from 4%. Expect a thorough underwriting process given the lender's bank-backed approach.
Best next step: Explore Lombard asset refinance for your equipment
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Facilities up to £5 million available
- Part of the NatWest Group
- Covers plant, vehicles and agricultural assets
Need to know
- Thorough bank-style underwriting process
- Monthly rates range from 4% to 11.5%
- Asset eligibility and valuation checks apply
Expert take
A bank-backed asset finance house with deep industrial sector experience. For £550,000 refinance, Lombard's institutional backing and broad asset appetite suit manufacturing and transport businesses that can meet rigorous credit standards for a long-term relationship.
Source:https://www.lombard.co.uk/
Time Finance
Published loan rangeUp to £5,000,000
Rate typeinterest 5.5% to 13.5% annually
Overview: Annual interest from 5.5% and repayment terms built around your cash flow cycle make asset refinance feel less like a blunt instrument. Time Finance funds against existing business assets up to £5 million, and the lender's broader invoice finance capability can complement a refinance for businesses wanting a more holistic working capital solution.
Best next step: See Time Finance asset refinance options
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Annual rates from 5.5% on asset refinance
- Facilities available up to £5 million
- Invoice finance can complement asset lending
Need to know
- Invoice quality and debtor profile matter
- Asset valuation likely required
- Facility limits may be reviewed periodically
Expert take
A working capital specialist that pairs asset refinance with invoice finance under one relationship. For £550,000, the annual pricing structure and combined product approach suit businesses wanting to release equity from equipment while also speeding up cash tied in receivables.
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: A high-street bank with a dedicated asset finance team brings relationship banking to equipment refinancing. Metro Bank lends from £2,000 to £25 million at a fixed annual rate of 9.6%, covering plant, machinery and vehicles. The bank's underwriting is thorough, so expect to provide full financials and potentially a personal guarantee.
Best next step: Apply for Metro Bank asset refinance
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- High-street bank with relationship managers
- Facilities from £2,000 to £25 million
- Fixed annual rate of 9.6%
Need to know
- Full financials and trading history needed
- Personal guarantee may be required
- Bank underwriting takes longer than specialists
Expert take
A retail and business bank with asset finance delivered through local relationship managers. For £550,000 refinance, Metro Bank suits established businesses that value face-to-face banking and are comfortable with conventional credit assessment in exchange for a stable, regulated lending partner.
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: Annual rates from 4.5% make NatWest one of the more cost-effective high-street options for releasing capital from owned assets. The bank refinances plant, machinery and vehicles up to £10 million, and its revolving credit facility can sit alongside asset refinance for businesses that need both term and flexible working capital.
Best next step: Check NatWest asset refinance rates
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Annual rates from 4.5% on asset refinance
- Facilities available up to £10 million
- Revolving credit can complement term lending
Need to know
- Standard bank eligibility checks apply
- Personal guarantee often required
- Underwriting may take several weeks
Expert take
A mainstream clearing bank with competitive asset finance pricing. For £550,000 refinance, NatWest's low annual rate and the option to add revolving credit suit established businesses wanting cost-efficient capital release alongside ongoing working capital.
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: Facilities reach £25 million through Barclays' asset finance division, making this a scalable option for businesses that may grow their refinancing needs beyond the initial £550,000. Annual rates run from 8.5% to 14.9%, applied to plant, machinery, commercial vehicles and specialist equipment. Expect bank-grade due diligence throughout.
Best next step: Explore Barclays asset refinance for your business
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Funding available up to £25 million
- Covers specialist and standard equipment
- Part of a global banking group
Need to know
- Annual rates from 8.5% to 14.9%
- Full financial disclosure required
- Security and personal guarantee likely
Expert take
A global bank with a well-established asset finance arm covering a broad spectrum of equipment types. For £550,000 refinance, Barclays' scalability and broad equipment appetite suit businesses wanting a single banking relationship that can accommodate future borrowing needs.
Novuna
Published loan range£10,000 to £5,000,000
Rate typeinterest 4.5% to 12.5% monthly
Overview: Asset refinance at Novuna sits alongside invoice finance and trade funding under one roof, giving businesses the option to structure a broader working capital package. Monthly rates range from 4.5% to 12.5%, with facilities up to £5 million available against existing plant, machinery and commercial vehicles.
Best next step: Check Novuna asset refinance for your equipment
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Combines asset, invoice and trade finance
- Facilities available up to £5 million
- Monthly rates from 4.5%
Need to know
- Full financial assessment required
- Asset type affects rate and terms
- Security and valuation costs apply
Expert take
A multi-product lender where asset refinance can form part of a wider working capital strategy. For £550,000, Novuna suits businesses that might benefit from blending equipment refinance with invoice or trade finance under a single provider relationship.
Aldermore Asset finance
Published loan range£1,000 to £10,000,000
Rate typeinterest 5% to 15% annually
Overview: A 48-hour decision window and annual rates from 5% give mid-market businesses a practical route to releasing equity from owned assets. Aldermore Asset Finance covers plant, machinery, vehicles and specialist equipment with facilities from £1,000 to £10 million. The lender takes a case-by-case approach rather than a rigid credit scorecard.
Best next step: Apply for Aldermore asset refinance
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Annual rates from 5% on asset refinance
- 48-hour decision on most applications
- Case-by-case underwriting approach
Need to know
- Two-day funding timeline after approval
- Asset valuation required for larger deals
- Sector experience varies by asset type
Expert take
A challenger bank with a pragmatic underwriting ethos that often looks beyond automated credit scores. For £550,000 refinance, Aldermore suits established businesses that might not fit high-street bank templates but have solid assets and trading history to support the facility.
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: Bespoke pricing from 3.5% monthly scales for facilities that can reach £100 million, though the sweet spot is mid-market. Close Brothers refinances plant, machinery, commercial vehicles and specialist assets with a relationship-led approach. The lender is particularly experienced in transport, manufacturing and construction sectors.
Best next step: Explore Close Brothers asset refinance
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Bespoke rates from 3.5% monthly
- Facilities available up to £100 million
- Deep sector expertise in heavy industries
Need to know
- Bespoke pricing means rates vary by deal
- Full asset and financial review required
- Typically suits £500k+ turnover businesses
Expert take
A long-established merchant banking group with deep roots in asset-based lending across industrial sectors. For £550,000 refinance, Close Brothers' sector knowledge and bespoke pricing model suit transport, manufacturing and construction businesses that value a relationship over a transactional approach.
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What assets qualify for a £550,000 refinance
Lenders funding a £550,000 asset refinance typically accept a broad range of hard assets. Plant and machinery, from CNC machines to production lines, are the most common. Commercial vehicles, including HGVs and specialised fleet, also qualify. Construction equipment such as excavators, bulldozers and telehandlers can be refinanced too.
Most lenders require the assets to be owned outright and free of existing finance. Valuation is critical. Lenders will instruct an independent valuer to confirm current market worth, not the original purchase price. Assets with strong resale value, such as late-model machinery from established manufacturers, tend to attract better terms.
Close Brothers accepts assets supporting facilities up to £100 million. NatWest and Barclays offer asset finance up to £10 million and £25 million respectively. For a £550,000 refinance, most asset types that hold their value well will meet lender criteria.
Loan-to-value and equity release at £550,000
Loan-to-value (LTV) ratios determine how much capital you can release against your assets. For a £550,000 refinance, the LTV sets the maximum advance as a percentage of the asset's current market value.
| Lender | Maximum LTV |
|---|---|
| Aldermore Asset Finance | 100% |
| Close Brothers | 90% |
| Reward Funding | 85% |
At 85% LTV you would need assets valued at roughly £647,000 to release £550,000. A higher LTV reduces the asset value required. The exact advance depends on asset type, age, condition and marketability. Lenders assess each asset individually rather than applying a blanket rate across a mixed portfolio.
Repayment terms and rates for £550,000 asset refinance
Asset refinance at £550,000 comes with a spread of rate structures and repayment terms. Some lenders quote monthly rates, others annual. This affects how you compare costs directly.
Reward Funding publishes rates from 0.99% to 3% per month, with terms from 3 months to 1 year. Close Brothers and Novuna both quote monthly rates, starting at 3.5% and 4.5% per month respectively.
Annual-rate lenders include Liberty Leasing at 11% to 16%, Aldermore at 5% to 15%, and NatWest at 4.5% to 10.5%. Metro Bank offers a flat 9.6% annually. Barclays sits in the 8.5% to 14.9% annual range.
Repayment terms stretch from 1 to 7 years with most specialist lenders. Metro Bank and NatWest can extend to 25 and 30 years for certain asset types. Shorter terms mean higher monthly payments but lower total interest cost.
How refinancing assets improves working capital without selling
Refinancing existing assets lets businesses unlock capital without losing operational equipment. For a £550,000 refinance, you keep using the machinery, vehicles or plant that generate your revenue while accessing a lump sum for other priorities.
Common uses include funding expansion, bridging a cash flow gap, refinancing more expensive debt, or investing in new contracts. Selling assets outright would mean losing productive capacity to raise the same capital.
Asset refinance also spreads cost predictably. Fixed monthly or quarterly payments make cash flow planning easier than variable overdraft rates or dipping into retained earnings. For businesses with seasonal income, some lenders offer structured repayment profiles.
Most lenders on this list, including Close Brothers and Aldermore, do not require homeownership as security, though personal guarantees are standard at this facility size. This keeps the facility tied to business assets rather than personal property.
