Top 10 UK Lenders for £600,000 Asset Refinance in 2026

Asset refinance allows your business to release capital from assets you already own outright or have significant equity in. A lender will assess the value of your equipment, machinery, vehicles or other tangible assets and advance a percentage of that value — typically up to 80% or 90%. You continue using the assets as normal while repaying the loan over an agreed term. Once the loan is fully repaid, full ownership of the assets remains with your business. It is a popular route for established companies looking to unlock working capital without selling essential operational assets.

To be eligible for asset refinance of this size, you will typically need to be a UK-registered limited company or LLP that has been trading for at least two years. The assets being refinanced must be owned outright or have substantial equity, and they need to hold clear resale value — think heavy plant, commercial vehicles, manufacturing equipment or agricultural machinery. Lenders will also assess your company's financial health, including turnover, profitability and existing debt commitments. A strong trading history and well-maintained asset records will significantly improve your chances of approval at the £600,000 level.

Interest rates for asset refinance vary depending on the lender, the asset type, your business credit profile and the loan-to-value ratio. Terms are commonly structured over one to seven years, with repayments typically made monthly. Some lenders may offer seasonal or flexible repayment structures to match your cash flow cycles. Because the lending is secured against tangible assets, rates are generally more competitive than unsecured business loans. You should always request a full breakdown of costs — including any arrangement fees, valuation fees or early settlement charges — before committing to any agreement.

Asset refinance is actually a type of secured business loan, but with a key distinction: it is specifically tied to assets you already own. A traditional secured business loan may use property, personal guarantees or a broader debenture as security, whereas asset refinance uses specific, identifiable equipment or machinery. The advantage of asset refinance is that it allows you to raise capital against assets that might otherwise sit idle on your balance sheet, often with a faster underwriting process than a property-secured loan. However, if your assets depreciate quickly, the amount you can raise may be limited compared to using commercial property as security.

Lenders will consider a wide range of tangible business assets. Common examples include construction plant and machinery, agricultural equipment, commercial vehicles and fleet, manufacturing and production lines, printing equipment, engineering machinery, and materials handling equipment such as forklifts. Some specialist lenders may also consider medical equipment, recycling machinery or renewable energy assets. The key criteria are that the assets must be owned outright by the business, be in reasonable working condition, and have a demonstrable resale market value. Lenders will typically require an independent valuation for facilities at the £600,000 level.

Start by looking for lenders with proven experience in your sector and the specific asset type you are refinancing. Check whether they are directly authorised by the FCA — you can verify this on the Financial Services Register. Compare not just the headline interest rate but the total cost of borrowing, including arrangement fees, valuation costs and any early repayment penalties. Consider the lender's funding speed: some can complete within days while others take several weeks. Also review their approach if circumstances change — do they offer payment holidays or restructuring options? Finally, read independent reviews and ask for client references, particularly from businesses that have refinanced similar asset values to yours.