Top 10 Lenders for £800,000 Equipment Finance in 2026

Equipment finance at the £800,000 level typically works as a hire purchase or finance lease agreement. With hire purchase, the lender buys the equipment on your behalf and you pay fixed monthly instalments over an agreed term, usually between two and seven years. Once the final payment is made, ownership transfers to your business. With a finance lease, you rent the asset for a set period and the lender retains ownership throughout. At £800,000, most lenders will also require a personal guarantee from directors and may secure the finance against the equipment itself, meaning the asset serves as collateral for the borrowing.

For £800,000 in equipment finance, lenders typically expect your business to have been trading for at least two to three years with audited or management accounts demonstrating consistent profitability. You will usually need an annual turnover comfortably above the borrowing amount, often a minimum of £1.5 million to £2 million, to demonstrate you can service the repayments. Lenders will review your credit history, existing debt obligations, and the projected return on investment from the equipment. The equipment itself must be identifiable, insurable, and have a clear resale value. Startups and businesses with poor credit may struggle to access this level of funding without additional security.

At £800,000, equipment finance rates are generally more competitive than smaller-ticket deals due to the higher value. Interest rates can be fixed or variable, with fixed rates offering predictable monthly costs and variable rates potentially linked to the Bank of England base rate. Terms usually range from two to seven years, though specialist lenders may extend to ten years for heavy machinery or specialist equipment with a long usable life. Deposit requirements can vary; some lenders ask for a 10% to 20% upfront contribution while others offer 100% funding. Exact rates depend on your credit profile, trading history, the type of equipment, and whether the finance is structured as hire purchase, finance lease, or operating lease.

Equipment finance is specifically tied to the asset being purchased, which means the equipment itself typically acts as security. This can make it easier to obtain than an unsecured term loan at the £800,000 level, as the lender's risk is partially offset by the asset's value. Secured business loans may use broader business assets like property or debtors as collateral and can offer more flexibility in how funds are used. Term loans provide a lump sum that can be spent across multiple needs, whereas equipment finance is restricted to the specified purchase. Equipment finance often comes with tax advantages too; for example, businesses may be able to claim capital allowances or deduct lease payments as an operating expense, though you should always speak to your accountant about your specific position.

At £800,000, you should look for a provider with a strong track record in your industry sector and experience handling mid-to-large-ticket asset finance. Check whether the lender is FCA-authorised and a member of the Finance and Leasing Association, which offers additional consumer protections and a clear code of conduct. Compare the total cost of finance, not just the headline rate; arrangement fees, documentation charges, early settlement penalties, and balloon payment options can all impact the overall cost. Ask about the lender's turnaround times for decisions and payouts, and whether they offer in-house underwriting or rely on external credit committees. It is also worth checking if the provider can structure the deal as hire purchase, finance lease, or operating lease so you can choose the most tax-efficient option for your circumstances.

Yes, most UK equipment finance lenders will fund both new and used equipment at the £800,000 level. For used equipment, lenders will typically require an independent valuation or a dealer invoice to confirm the asset's market value, and they may impose age limits on the equipment at the end of the finance term. The maximum term for used equipment is often shorter than for new, reflecting the reduced remaining useful life. Some lenders specialise in particular asset types, such as construction machinery, commercial vehicles, printing equipment, or manufacturing plant, so it is worth approaching providers with relevant sector experience. In all cases, the equipment must be clearly identifiable by serial number and fully insurable.