Top 10 Lenders for £700,000 Asset Refinance in the UK (2026)
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Top 10 UK lenders for £700,000 asset refinance
| Rank | Lender | Best for | Published loan range | Loan rate |
|---|---|---|---|---|
| 1 | Reward Funding | Businesses refinancing high-value assets with flexible monthly terms | £100,000 to £5,000,000 | interest 0.99% to 3% monthly |
| 2 | Liberty Leasing | Firms needing fast refinance decisions on mixed asset portfolios | £10,000 to £2,000,000 | interest 11% to 16% annually |
| 3 | Lombard | Established businesses refinancing heavy machinery or vehicle fleets | Up to £5,000,000 | interest 4% to 11.5% monthly |
| 4 | Time Finance | Mid-sized businesses seeking competitive fixed-rate annual refinancing | Up to £5,000,000 | interest 5.5% to 13.5% annually |
| 5 | Metro Bank | Businesses wanting asset refinance through a high-street bank | £2,000 to £25,000,000 | interest 9.6% to 9.6% annually |
| 6 | NatWest Bank | Larger firms with strong turnover seeking bank-backed refinance | £500 to £10,000,000 | interest 4.5% to 10.5% annually |
| 7 | Barclays | Companies preferring a familiar high-street banking relationship | £1,000 to £25,000,000 | interest 8.5% to 14.9% annually |
| 8 | Novuna | Mid-market businesses comparing specialist asset finance providers | £10,000 to £5,000,000 | interest 4.5% to 12.5% monthly |
| 9 | Aldermore Asset finance | Younger businesses with valuable assets to refinance | £1,000 to £10,000,000 | interest 5% to 15% annually |
| 10 | Close Brothers | Substantial businesses needing bespoke refinance up to large sums | £25,000 to £100,000,000 | bespoke 3.5% to 10% monthly |
Asset refinance lets you raise capital against assets your company already owns, such as machinery, vehicles, equipment, or commercial property, rather than borrowing against future purchases. It suits UK businesses that have built up equity in hard assets but need to unlock working capital without selling them. A £700,000 refinance typically means releasing value from a fleet, production line, or high-value plant to fund growth or manage cash flow.
Choosing the best asset refinance lender goes beyond comparing headline rates. At £700,000, the loan-to-value ratio lenders offer against your assets matters just as much: most funders lend between 70 and 80 per cent of an asset's assessed worth. Also compare term lengths, which can range from one to seven years, and whether the rate is fixed or variable. Early settlement penalties, arrangement fees, and the lender's experience with your asset type all influence total cost and speed.
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% make Reward Funding a cost-conscious choice for refinancing business assets. This lender takes security over machinery, vehicles or equipment and releases working capital against them. The revolving structure means you can draw, repay and redraw as cash flow demands. Expect a valuation requirement and legal costs on larger facilities.
Best next step: Compare Reward Funding rates for asset refinance
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Rates from 0.99% per month
- Revolving credit facility available
- Funding up to £5 million
Need to know
- Asset valuation is required
- Legal costs may apply
- Facility limits can be reviewed
Expert take
A secured revolving lender with competitive monthly pricing for businesses that need flexible working capital. A £700,000 refinance works well here when your assets are unencumbered and you want ongoing drawdown ability alongside predictable monthly costs.
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 funds asset refinance deals from £10,000 to £2 million, covering a broad spectrum of business equipment. The annual interest structure keeps costs predictable over the full term. Approvals can come through in 24 hours, which helps when working capital is needed quickly. Asset eligibility checks and a deposit may be required.
Best next step: See Liberty Leasing asset refinance options
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Annual interest rate structure
- Funding within 24 hours
- Wide asset eligibility range
Need to know
- Deposit may be required
- Asset valuation needed
- Rates from 11% annually
Expert take
A straightforward asset finance lender with annual rates that suit businesses wanting to forecast costs precisely. A £700,000 refinance lands comfortably here for companies with eligible plant, vehicles or machinery and a preference for quick, no-fuss underwriting.
Lombard
Published loan rangeUp to £5,000,000
Rate typeinterest 4% to 11.5% monthly
Overview: Lombard turns asset refinance applications around within 24 hours, which matters when cash flow pressure is acute. Monthly interest runs from 4% and the lender can fund facilities up to £5 million. Security is taken over business equipment, vehicles or machinery. Expect a valuation process and some upfront costs on larger refinance arrangements.
Best next step: Explore Lombard asset refinance deals
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- 24-hour funding turnaround
- Facilities up to £5 million
- Secured against business assets
Need to know
- Monthly interest from 4%
- Valuation process required
- Upfront costs may apply
Expert take
A high-street asset finance name with deep experience in mid-to-large refinance deals. Lombard's £5 million ceiling and fast turnaround make a £700,000 refinance routine for their credit team, provided your assets are in good condition and free of existing charges.
Source:https://www.lombard.co.uk/
Time Finance
Published loan rangeUp to £5,000,000
Rate typeinterest 5.5% to 13.5% annually
Overview: Time Finance blends asset refinance with invoice finance under one roof, giving businesses a broader toolkit for unlocking working capital. Annual rates between 5.5% and 13.5% keep cost forecasting simple. The revolving structure lets you draw against assets repeatedly as cash flow needs shift. Suitability hinges on invoice quality and debtor concentration as well as asset condition.
Best next step: Check Time Finance asset refinance rates
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Annual interest from 5.5%
- Combined asset and invoice finance
- Revolving facility structure
Need to know
- Invoice quality affects eligibility
- Debtor concentration is assessed
- Revolving limits can change
Expert take
A hybrid lender that suits asset-rich businesses also carrying a healthy sales ledger. A £700,000 refinance can be structured flexibly here, particularly if you want the option to blend asset security with invoice-backed working capital as trading patterns evolve.
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 brings high-street lending muscle to asset refinance, with facilities stretching from £2,000 to £25 million. The annual rate sits at 9.6%, delivering predictable cost across the term. As a clearing bank, Metro can layer asset finance with broader banking services. Underwriting is thorough and a personal guarantee may be requested.
Best next step: View Metro Bank asset refinance deals
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Fixed annual rate at 9.6%
- Facilities up to £25 million
- Full-service banking available
Need to know
- Bank underwriting is thorough
- Personal guarantee may apply
- Strong trading history needed
Expert take
A high-street bank with a clean, single-rate approach to asset finance that removes pricing ambiguity. A £700,000 refinance suits established businesses that want predictable annual costs and are comfortable with traditional bank underwriting timelines and security requirements.
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: Starting at just £500 and scaling to £10 million, NatWest's asset refinance is unusually accessible for a clearing bank. Annual rates range from 4.5% to 10.5%, with pricing tiered by risk and asset quality. Revolving credit and invoice finance are also available, which lets you build a broader funding relationship around the refinance.
Best next step: Check NatWest asset refinance terms
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Annual rates from 4.5%
- Access from £500 upwards
- Multiple finance products available
Need to know
- Bank underwriting applies
- Trading history is assessed
- Pricing varies by asset risk
Expert take
A clearing bank that can price asset refinance competitively for lower-risk deals. NatWest's £10 million upper limit and starting rate of 4.5% annually position a £700,000 refinance well for established firms with clean balance sheets and strong trading records.
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 has a dedicated asset finance division that handles refinance on plant, machinery and commercial vehicles. Annual rates run from 8.5% to 14.9%, and the bank funds up to £25 million. Security and valuation are standard requirements. Complex asset portfolios are handled well here, and the bank's sector specialists understand manufacturing, transport and engineering equipment.
Best next step: Explore Barclays asset refinance deals
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Dedicated asset finance team
- Up to £25 million available
- Sector-specific underwriting
Need to know
- Annual rates from 8.5%
- Valuation is mandatory
- Security over assets required
Expert take
A clearing bank whose asset finance arm understands industrial and commercial equipment thoroughly. Barclays suits businesses refinancing specialist machinery where the lender's sector knowledge can speed underwriting and produce a fair valuation on a £700,000 portfolio.
Novuna
Published loan range£10,000 to £5,000,000
Rate typeinterest 4.5% to 12.5% monthly
Overview: With facilities reaching £5 million and monthly rates from 4.5%, Novuna brings a specialist lending approach to asset refinance. The lender goes beyond standard hire purchase, covering trade stock and invoice finance as well. Asset type and portfolio quality drive the final pricing. A personal guarantee may be requested on larger arrangements.
Best next step: Compare Novuna asset refinance options
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Monthly rates from 4.5%
- Up to £5 million available
- Trade and stock finance too
Need to know
- Personal guarantee possible
- Asset valuation is needed
- Monthly interest structure
Expert take
A specialist lender with a broad product set that goes well beyond vanilla asset finance. Novuna works for a £700,000 refinance where you might want to layer stock or invoice funding later, and monthly pricing rewards borrowers who model total cost carefully.
Aldermore Asset finance
Published loan range£1,000 to £10,000,000
Rate typeinterest 5% to 15% annually
Overview: Annual rates between 5% and 15% keep Aldermore's asset refinance predictable, with facilities stretching from £1,000 to £10 million and covering single items through to full fleet portfolios. Funding typically lands within 48 hours. The lender's SME focus means underwriting is built around owner-managed businesses and straightforward asset portfolios.
Best next step: See Aldermore asset refinance rates
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Annual rates from 5%
- Up to £10 million funding
- SME-focused underwriting
Need to know
- Funding within 48 hours
- Asset valuation required
- Product fit needs checking
Expert take
An SME-specialist lender with a wide lending band and annual pricing that suits businesses wanting cost certainty. Aldermore handles a £700,000 refinance comfortably, especially for owner-managed firms where the decision-makers are visible and assets are straightforward to value.
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 dominates the upper end of asset refinance with a £100 million lending ceiling and bespoke monthly rates starting at 3.5%. The lender knows transport, manufacturing and construction inside out. Funding can land within 24 hours. Businesses below £500,000 turnover may find the eligibility bar harder to clear.
Best next step: Explore Close Brothers refinance deals
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Up to £100 million available
- Bespoke monthly rates
- Sector expertise in industry
Need to know
- £500k turnover typically needed
- Monthly interest structure
- Bespoke pricing applies
Expert take
A mid-market specialist with enormous lending capacity and genuine sector knowledge in transport, manufacturing and construction. A £700,000 refinance is a standard deal here, provided your turnover clears the £500,000 threshold and your asset portfolio is well-maintained.
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How £700,000 asset refinance works for UK businesses
Asset refinance lets your business borrow against assets you already own. You continue using the assets while the lender takes a charge over them. At £700,000, this suits businesses with machinery, commercial vehicles, plant equipment or property that carry significant unencumbered value.
The lender values your assets and offers a percentage of that value as a loan. You repay over an agreed term, and ownership stays with you throughout. Refinancing existing assets is often faster than arranging a new commercial mortgage, because the assets are already in place and generating income.
For a £700,000 raise, most lenders on this list can accommodate the amount. Reward Funding covers facilities from £100,000 to £5,000,000. Lombard and Time Finance both offer up to £5,000,000.
LTV ratios and asset types for £700,000 asset refinance
Loan-to-value ratios determine how much you can borrow against your assets. At the £700,000 level, LTVs among the lenders listed here range from 85% to 100%.
Reward Funding publishes a maximum LTV of 85%, meaning your assets would need to be worth at least £825,000 to raise £700,000. Close Brothers offers up to 90% LTV. Aldermore Asset finance stands out with up to 100% LTV, potentially allowing you to borrow the full value of eligible assets.
The type of asset matters. Lenders favour hard assets such as construction plant, CNC machinery, commercial vehicles and printing equipment. Softer assets like office furniture or IT equipment may attract lower LTVs or shorter terms. A professional valuation can speed up the process.
Comparing rates and costs for £700,000 asset refinance
Rates for asset refinance vary by lender, asset type and borrower profile. The table below shows published rate ranges from lenders on this list.
| Lender | Published rate range | Rate type |
|---|---|---|
| Reward Funding | 0.99% to 3% monthly | Interest |
| NatWest Bank | 4.5% to 10.5% annually | Interest |
| Liberty Leasing | 11% to 16% annually | Interest |
| Close Brothers | 3.5% to 10% monthly | Bespoke |
| Aldermore Asset finance | 5% to 15% annually | Interest |
At £700,000, even small rate differences matter. A 1% difference over five years can mean several thousand pounds in extra cost. Businesses with strong asset quality and trading history tend to access rates at the lower end of these ranges.
Eligibility and the application process for £700,000 asset refinance
Most asset refinance lenders expect at least one year of trading history. Lombard, Novuna and Close Brothers all specify a minimum of 12 months. Aldermore Asset finance accepts businesses from six months.
Turnover requirements vary. NatWest Bank looks for at least £300,000 in annual turnover. Close Brothers expects £500,000. Novuna sets the threshold at £50,000, and Lombard requires £25,000.
Personal guarantees are common at this level. Reward Funding, Liberty Leasing, Time Finance and Aldermore all require them. Metro Bank also expects a homeowner guarantee.
To apply, you will need asset schedules, proof of ownership, recent management accounts and bank statements. A broker can match your profile to lenders most likely to approve a £700,000 facility at competitive rates.
