Top £950,000 Asset Refinance Lenders in the UK 2026
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Top 10 Lenders for £950,000 Asset Refinance
| Rank | Lender | Best for | Published loan range | Loan rate |
|---|---|---|---|---|
| 1 | Reward Funding | Releasing capital from high-value plant and machinery | £100,000 to £5,000,000 | interest 0.99% to 3% monthly |
| 2 | Liberty Leasing | Mid-market firms refinancing mixed asset portfolios | £10,000 to £2,000,000 | interest 11% to 16% annually |
| 3 | Lombard | Established businesses needing bank-backed asset refinance | Up to £5,000,000 | interest 4% to 11.5% monthly |
| 4 | Time Finance | SMEs seeking flexible terms on larger refinance facilities | Up to £5,000,000 | interest 5.5% to 13.5% annually |
| 5 | Admiral leasing | Businesses refinancing equipment alongside smaller asset lines | From £1,000 | interest 5.5% to 13.5% annually |
| 6 | Barclays | Companies wanting a high-street bank refinance comparison | £1,000 to £25,000,000 | interest 8.5% to 14.9% annually |
| 7 | Acorn Business Finance | Owner-managed firms refinancing specialist machinery | £15,000 to £5,000,000 | interest 8% to 15% annually |
| 8 | Propel Finance | Asset-heavy businesses releasing equity from fleet and equipment | From £500 | interest 5% to 20% annually |
| 9 | Aldermore Asset finance | Growing SMEs refinancing diverse asset bases up to £10m | £1,000 to £10,000,000 | interest 5% to 15% annually |
| 10 | Close Brothers | Larger corporates refinancing substantial asset portfolios | £25,000 to £100,000,000 | bespoke 3.5% to 10% monthly |
Asset refinance is a funding solution that lets businesses raise capital against assets they already own outright, such as heavy plant, commercial vehicles, manufacturing equipment or specialist machinery. A lender advances a lump sum based on the asset's current market value, while the business retains full use of the equipment. For established UK companies with approximately £950,000 tied up in tangible assets, it unlocks significant working capital without surrendering operational capacity.
Comparing asset refinance lenders at this level involves more than just the quoted rate. Loan-to-value ratios vary considerably between funders, directly affecting how much capital you can release. The range of assets a lender will accept matters, as does whether they offer fixed or variable rate structures. Repayment terms, early settlement options and the lender's experience with larger facilities all influence total cost. Specialist asset finance providers often deliver more flexible structuring than high-street banks for refinance deals around £950,000.
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: Reward Funding structures asset refinance facilities from £100,000 to £5,000,000, using your owned plant, machinery or vehicles as security. A revolving credit model lets you draw funds as working capital needs arise and repay when cash flow eases, so you are not servicing a lump sum that sits idle. Monthly interest runs 0.99% to 3%, shaped by asset quality and trading profile.
Best next step: Generate offers
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Revolving credit tied to your assets
- Draw and repay as cash flow shifts
- Facilities scale to £5,000,000
Need to know
- Interest calculated monthly at 0.99% to 3%
- Valuation and legal costs may apply
- Asset eligibility checks are required
Expert take
Reward Funding operates a revolving asset-based model suited to mid-market businesses with substantial owned equipment. For a £950,000 refinance, the flexible drawdown structure works well when working capital needs fluctuate across seasons or contract cycles.
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 quotes annual rates from 11% to 16% on asset refinance, giving a clear fixed cost for budgeting a facility of this size. They lend from £10,000 to £2,000,000 against existing equipment, vehicles and machinery. Funding can complete within 24 hours once asset valuations are agreed, keeping the process tight for businesses that need working capital released quickly.
Best next step: Generate offers
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Fixed annual rates aid budgeting
- Lends against varied asset types
- Funding possible within 24 hours
Need to know
- Asset valuations are required upfront
- Deposits may be needed on some deals
- Rates range from 11% to 16% annually
Expert take
Liberty Leasing keeps asset refinance straightforward, linking funding directly to tangible equipment value. A business refinancing £950,000 of owned assets will find the fixed-rate structure helps with long-term repayment planning, particularly for plant and machinery with clear resale markets.
Lombard
Published loan rangeUp to £5,000,000
Rate typeinterest 4% to 11.5% monthly
Overview: Lombard writes asset refinance facilities up to £5,000,000, making them a natural fit for businesses releasing capital from higher-value plant, commercial vehicles or specialist machinery. Rates are quoted monthly between 4% and 11.5%, and funding can complete within 24 hours. The lender's scale means they handle complex asset registers without slowing the process.
Best next step: Generate offers
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Facilities reach £5,000,000
- Handles complex asset registers
- Fast 24-hour funding turnaround
Need to know
- Monthly rates from 4% to 11.5%
- Asset eligibility checks are needed
- Valuations required before approval
Expert take
Lombard is a long-established name in UK asset finance with the balance sheet capacity to underwrite larger refinance deals comfortably. For a £950,000 capital release, their experience with mixed asset portfolios means plant, machinery and fleet can often be bundled into a single facility.
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 pairs asset refinance with invoice finance under one roof, which helps if you are releasing capital from equipment but also carry a debtor book that could strengthen your application. Facilities reach £5,000,000 with annual rates from 5.5% to 13.5%. Their revolving structure means you draw against assets as needed rather than taking a fixed sum.
Best next step: Generate offers
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Combines asset and invoice finance
- Revolving facility to £5,000,000
- Annual rates from 5.5%
Need to know
- Invoice book quality affects eligibility
- Limits can be reviewed or adjusted
- Asset valuations are required
Expert take
Time Finance takes a broader view of working capital by blending asset and invoice finance lines. For a business with around £950,000 in owned equipment plus outstanding B2B invoices, this dual approach can unlock more total funding than a standalone asset refinance.
Source:https://www.timefinance.com/
Admiral leasing
Published loan rangeFrom £1,000
Rate typeinterest 5.5% to 13.5% annually
Overview: Admiral leasing advertises funding decisions within four hours, which is among the quickest turnaround times for asset refinance at this scale. They lend from £1,000 upward and quote annual rates between 5.5% and 13.5%. Equipment, vehicles and machinery all qualify as security, giving you flexibility on which owned assets to refinance.
Best next step: Generate offers
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Funding decisions in four hours
- Annual rates from 5.5%
- Broad asset eligibility criteria
Need to know
- Trading history and affordability checked
- Personal guarantee may be required
- Valuation costs can apply
Expert take
Admiral leasing positions itself for speed, with four-hour decisions suiting businesses that need to move quickly on a working capital release. For a £950,000 refinance, the key question is whether the rate band and terms hold at the upper end of their lending appetite.
Barclays
Published loan range£1,000 to £25,000,000
Rate typeinterest 8.5% to 14.9% annually
Overview: Barclays brings bank-grade underwriting to asset refinance, lending from £1,000 to £25,000,000 across equipment, vehicles and machinery. Annual rates sit between 8.5% and 14.9%, and an existing banking relationship can smooth the application. The process is more thorough than alternative lenders, so expect longer turnaround times.
Best next step: Generate offers
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Bank-grade funding stability
- Lends up to £25,000,000
- Existing relationship may help
Need to know
- Longer underwriting than non-bank lenders
- Strong trading history is expected
- Personal guarantee may be required
Expert take
Barclays is a high-street bank with deep asset finance capability, making it a credible option for established businesses refinancing £950,000 of owned assets. The rate band is competitive for a bank, and borrowers with a clean trading record and existing Barclays relationship will see the smoothest path.
Acorn Business Finance
Published loan range£15,000 to £5,000,000
Rate typeinterest 8% to 15% annually
Overview: Acorn Business Finance structures asset refinance from £15,000 to £5,000,000, covering plant, machinery and commercial vehicles. Annual rates between 8% and 15% give a predictable cost base, and their product set spans term loans and revolving facilities, so you can match the repayment style to how you intend to deploy the released capital.
Best next step: Generate offers
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Term and revolving options available
- Covers plant, vehicles and machinery
- Facilities scale to £5,000,000
Need to know
- Annual rates from 8% to 15%
- Strong trading history is expected
- Asset valuations are mandatory
Expert take
Acorn Business Finance operates across a wide product set, which helps when a straightforward term loan might not suit your refinance plan. For a £950,000 facility, the choice between revolving and fixed-term repayment gives useful flexibility depending on how quickly you expect to redeploy the capital.
Propel Finance
Published loan rangeFrom £500
Rate typeinterest 5% to 20% annually
Overview: Propel Finance quotes annual rates from 5% to 20% on asset refinance, with facilities starting as low as £500 and scaling to cover substantial equipment portfolios. Funding typically completes within two to five days. The wide rate band means strong asset quality and trading history will significantly influence where your pricing lands.
Best next step: Generate offers
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Annual rates start at 5%
- Lends from £500 upward
- Funding within two to five days
Need to know
- Higher-risk deals pay up to 20%
- Asset valuations are required
- Deposits may apply on some deals
Expert take
Propel Finance is a volume-focused asset funder with pricing that rewards clean deals. For a £950,000 refinance, the lower end of their 5% to 20% rate band should be achievable if the underlying assets hold strong resale value and your business has a solid trading record.
Aldermore Asset finance
Published loan range£1,000 to £10,000,000
Rate typeinterest 5% to 15% annually
Overview: Aldermore Asset Finance lends from £1,000 to £10,000,000 against owned equipment, vehicles and machinery, with funding typically completing within 48 hours. Annual rates run 5% to 15%, and their experience with mid-market businesses means they understand the asset profiles common in manufacturing, logistics and construction.
Best next step: Generate offers
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Lends up to £10,000,000
- Funding within 48 hours
- Annual rates from 5%
Need to know
- Strong trading record is expected
- Asset valuations are required
- Rates reach 15% for higher risk
Expert take
Aldermore Asset Finance has built a strong reputation in UK mid-market lending, particularly for businesses with heavy plant and machinery on their balance sheet. A £950,000 refinance fits comfortably within their appetite, and the two-day funding timeline keeps the process efficient.
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 has deep roots in transport, manufacturing and construction finance, making them a strong match for businesses in those sectors looking to refinance heavy plant, commercial fleets or production machinery. Facilities run from £25,000 to £100,000,000 with bespoke monthly rates from 3.5% to 10%, structured around the asset type and your trading profile.
Best next step: Generate offers
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Sector specialists in heavy industry
- Facilities reach £100,000,000
- Bespoke rates reflect asset type
Need to know
- Monthly rates from 3.5% to 10%
- Strong sector trading history expected
- Valuation costs apply to large facilities
Expert take
Close Brothers is one of the UK's most established asset finance lenders, with particular strength in transport, manufacturing and construction. For a £950,000 refinance of heavy plant or fleet, their sector knowledge often translates into sharper underwriting and fewer delays on asset valuation.
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How asset refinance works for a £950,000 facility
Asset refinance lets a business raise capital against equipment, plant or machinery it already owns outright. For a facility around £950,000, the lender commissions a professional valuation of the assets to establish their current market worth. The lender then advances a percentage of that value, typically between 85% and 100% depending on the asset type and its resale profile. Close Brothers offers up to 90% LTV, while Aldermore and Propel Finance both publish maximum LTVs of 100% on qualifying assets. The business continues using the assets throughout the term and repays the facility in fixed monthly instalments. Once the final payment clears, unencumbered ownership reverts to the business. At this scale, lenders normally require audited asset registers, servicing records and proof of outright ownership before proceeding. The entire process, from initial enquiry to drawdown, generally takes between two and six weeks depending on the complexity of the asset portfolio.
What types of assets can be refinanced at the £950,000 level
Most asset refinance lenders will consider a broad range of tangible business assets. Plant and machinery, production lines, commercial vehicles, heavy goods vehicles, agricultural equipment, printing presses, CNC machines and construction plant all commonly qualify. Some lenders also refinance specialist equipment such as medical imaging devices, laboratory kit or food processing lines, provided they hold a strong secondary market. At the £950,000 mark, lenders look beyond individual items and assess the portfolio as a whole. They want to see well-maintained assets with clear serial numbers, known service histories and predictable depreciation curves. Soft assets like IT hardware or office furniture are harder to refinance at this scale because their resale values drop sharply. If your asset mix includes both hard and soft items, expect the lender to focus the facility primarily on the harder assets with better long-term value retention.
LTV ratios and rate expectations for a £950,000 asset refinance
Loan-to-value ratios for larger asset refinance facilities vary by lender and asset quality. Close Brothers publishes a maximum LTV of 90%, while Reward Funding caps its facilities at 85%. Some funders, including Aldermore and Propel Finance, offer up to 100% LTV for well-maintained, high-demand assets. At the £950,000 level, the actual LTV offered depends on the valuation report, the age and condition of the equipment, and its likely resale value. Rate structures also differ across the market. Monthly-rate lenders include Reward Funding at 0.99% to 3% per month and Close Brothers at 3.5% to 10% per month. Annual-rate options include Time Finance at 5.5% to 13.5% per year and Barclays at 8.5% to 14.9% per year. Most lenders at this facility size require a personal guarantee from directors. Repayment terms typically span one to seven years, with longer terms available on assets that depreciate slowly.
How £950,000 asset refinance compares to other funding routes
| Funding route | Typical advance | Key requirement |
|---|---|---|
| Asset refinance | 85% to 100% of asset value | Owned equipment outright |
| Asset-based lending | 70% to 90% of asset and debtor value | Asset base plus trade debtors |
| Invoice finance | 80% to 95% of invoice value | Unpaid B2B invoices |
| Secured business loan | 50% to 75% of property value | Commercial or residential property |
Asset refinance typically suits businesses that own their equipment outright and want to keep using it throughout the repayment term. Asset-based lending combines equipment refinance with a revolving facility against trade debtors, which can increase total headroom but adds complexity and cost. Invoice finance releases cash from unpaid invoices and can sit alongside an existing asset refinance facility for businesses that need both. A secured business loan against property may offer lower headline rates but requires real estate as security, which not every mid-market equipment owner holds. For manufacturers, hauliers and plant hire firms with a large fleet or production line, asset refinance remains the most direct route to unlock significant capital without selling equipment or disrupting daily operations.
