Top 10 Asset Refinance Lenders in the UK 2026
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Top 10 Asset Refinance Providers in the UK compared
| Rank | Lender | Best for | Published loan range | Loan rate |
|---|---|---|---|---|
| 1 | Reward Funding | Large-scale asset refinance from £100k with competitive rates | £100,000 to £5,000,000 | interest 0.99% to 3% |
| 2 | Liberty Leasing | Mid-value asset refinance from £10k for quick working capital | £10,000 to £2,000,000 | interest 11% to 16% |
| 3 | Lombard | Broad asset refinance up to £5m for diverse equipment types | Up to £5,000,000 | interest 4% to 11.5% |
| 4 | Time Finance | Flexible refinance up to £5m for plant and machinery assets | Up to £5,000,000 | interest 5.5% to 13.5% |
| 5 | Admiral leasing | Small-ticket refinance from £1k with rapid four-hour funding | From £1,000 | interest 5.5% to 13.5% |
| 6 | Lloyds Bank | Bank-backed refinance for smaller asset values up to £50k | £1,000 to £50,000 | interest 10.65% to 11.2% |
| 7 | Barclays | Large-scale bank refinance covering assets from £1k to £25m | £1,000 to £25,000,000 | interest 8.5% to 14.9% |
| 8 | Rivers Leasing | Mid-range asset refinance from £5k with competitive rates | £5,000 to £100,000 | interest 4% to 11.5% |
| 9 | Aldermore Asset finance | Versatile refinance from £1k up to £10m across asset types | £1,000 to £10,000,000 | interest 5% to 15% |
| 10 | Close Brothers | Rate-competitive refinance for businesses with strong credit profiles | Not published | interest 3.5% to 10% |
Asset refinance lets UK businesses unlock cash from assets they already own. You sell vehicles, plant machinery, or equipment to a lender and lease them back. The lender releases a lump sum while you keep using the assets day to day. This turns owned equipment into working capital without disrupting operations. Our top 10 asset refinance providers in the UK list helps you compare lenders that specialise in releasing equity from existing assets.
Rates, advance levels, and loan terms vary widely across the market. Some lenders focus on heavy plant and machinery. Others specialise in commercial vehicles or smaller equipment. Choosing the right refinance partner affects how much capital you can release and at what cost. Below we compare the best asset refinance providers available to UK businesses, ranked by what matters most when refinancing owned assets.
Important: Funding Agent is a commercial finance broker, not a direct lender. The providers featured are a selection of asset refinance lenders available in the UK market. Eligibility criteria and rates depend on your asset type, business profile, and the lender's current appetite.
Funding Agent
Published loan rangeFrom £10,000 to up to £1,000,000
Rate typeInterest or factor rate
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%
Overview: Reward Funding supports businesses looking to refinance existing assets such as machinery, vehicles and equipment to release working capital. Their asset finance product is designed for larger refinance requirements.
With facilities from £100,000 to £5,000,000 and competitive rates starting under 3%, this lender suits established businesses with valuable owned assets seeking to unlock equity without selling them.
Best next step: Generate offers to compare refinance terms.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Competitive rates for larger facilities
- Refinance diverse productive assets
- Revolving credit structure available
Need to know
- Requires suitable security and asset valuations
- Legal or valuation costs may apply
- Minimum facility size is £100,000
Expert take
Reward Funding is a strong fit for mid-to-large businesses refinancing high-value assets. The revolving structure can support ongoing working capital needs beyond a one-off refinance.
Source:https://rewardfunding.co.uk/
Liberty Leasing
Published loan range£10,000 to £2,000,000
Rate typeinterest 11% to 16%
Overview: Liberty Leasing offers asset refinance for businesses that own vehicles, plant or equipment and need to raise working capital. Their product covers a broad range of asset types.
Facilities range from £10,000 to £2,000,000, suiting both smaller and mid-sized refinance needs. Funding can be arranged within 24 hours, making it practical for businesses needing quick access to capital.
Best next step: Generate offers to explore refinance rates.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Wide asset type eligibility
- Funding available within 24 hours
- Helps preserve existing cash flow
Need to know
- Rates typically range 11% to 16%
- Deposits or valuations may be needed
- Funding is tied to specific assets
Expert take
Liberty Leasing works well for businesses needing a straightforward refinance on owned equipment or vehicles. The higher rate band reflects their accessibility for a wider credit spectrum.
Lombard
Published loan rangeUp to £5,000,000
Rate typeinterest 4% to 11.5%
Overview: Lombard is a long-established name in UK asset finance, offering refinance solutions that help businesses release equity from owned vehicles, machinery and equipment.
Facilities are available up to £5,000,000 with interest rates starting around 4%, making them competitive for businesses with quality assets. Their refinance product can support working capital, growth or restructuring needs.
Best next step: Generate offers to see Lombard refinance options.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Competitive rates from around 4%
- Up to £5m refinance available
- Backed by extensive asset experience
Need to know
- Deposits and asset valuations may apply
- Eligibility depends on asset condition
- Funding is asset-specific
Expert take
Lombard brings institutional backing and competitive pricing to asset refinance. They suit businesses with well-maintained, higher-value assets looking for cost-effective refinance terms.
Source:https://www.lombard.co.uk/
Time Finance
Published loan rangeUp to £5,000,000
Rate typeinterest 5.5% to 13.5%
Overview: Time Finance provides asset refinance alongside invoice finance, giving businesses multiple ways to unlock working capital from owned assets and unpaid invoices.
With facilities up to £5,000,000 and rates from 5.5%, they serve businesses that want to refinance equipment or machinery while also potentially accessing invoice-based funding for broader working capital support.
Best next step: Generate offers to see combined refinance options.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Combined asset and invoice solutions
- Facilities up to £5,000,000
- Flexible drawdown structure
Need to know
- Rates range 5.5% to 13.5%
- Invoice quality affects eligibility
- Limits can be reviewed over time
Expert take
Time Finance suits businesses that own assets and have unpaid B2B invoices. Their dual capability means you could structure a broader working capital solution rather than a standalone asset refinance.
Source:https://www.timefinance.com/
Admiral leasing
Published loan rangeFrom £1,000
Rate typeinterest 5.5% to 13.5%
Overview: Admiral Leasing offers asset refinance for UK businesses seeking to unlock capital from existing equipment, vehicles or machinery. Facilities start from as little as £1,000.
With funding possible in as little as 4 hours, they are one of the faster options for asset refinance. Rates typically fall between 5.5% and 13.5%, depending on the asset and borrower profile.
Best next step: Visit lender to explore Admiral Leasing terms.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Fast funding in as little as 4 hours
- Low minimum from £1,000
- Broad asset type coverage
Need to know
- Strong trading history may be required
- Personal guarantee could be needed
- Asset valuations likely apply
Expert take
Admiral Leasing stands out for speed and low entry point. Small businesses with modest assets can refinance quickly, though underwriting may still require affordability evidence and trading history.
Lloyds Bank
Published loan range£1,000 to £50,000
Rate typeinterest 10.65% to 11.2%
Overview: Lloyds Bank provides asset refinance as part of its broader business lending range, helping customers release equity from owned assets to fund working capital needs.
Facilities range from £1,000 to £50,000 with rates around 10.65% to 11.2%. As a high street bank, their process may be more structured, with funding typically within 48 hours.
Best next step: Generate offers to compare Lloyds refinance rates.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Trusted high street lender
- Facilities from £1,000
- Broad product range available
Need to know
- Bank underwriting can be stricter
- Strong trading history often needed
- Personal guarantee may be required
Expert take
Lloyds Bank suits businesses that value a familiar banking relationship and need smaller asset refinance facilities. The trade-off is a more traditional underwriting process compared to specialist lenders.
Barclays
Published loan range£1,000 to £25,000,000
Rate typeinterest 8.5% to 14.9%
Overview: Barclays offers asset refinance across an exceptionally broad range, from £1,000 to £25,000,000, making them suitable for businesses of nearly any size looking to refinance owned assets.
Rates start around 8.5% and funding can be arranged within 24 hours. Their asset finance covers vehicles, machinery and equipment, backed by the strength of a major UK bank.
Best next step: Generate offers to explore Barclays refinance.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Facilities from £1k to £25m
- Major UK bank backing
- Funding within 24 hours
Need to know
- Stricter bank underwriting applies
- Strong affordability evidence needed
- Asset valuations and security required
Expert take
Barclays is one of the most scalable asset refinance providers. Whether you need to refinance a single vehicle or a fleet of machinery, their range covers both ends of the market.
Rivers Leasing
Published loan range£5,000 to £100,000
Rate typeinterest 4% to 11.5%
Overview: Rivers Leasing specialises in asset finance, including refinance for businesses that own vehicles, plant or equipment and want to release working capital.
Facilities range from £5,000 to £100,000 with competitive rates starting around 4%. They focus on straightforward asset-backed lending, with funding typically available within 48 hours.
Best next step: Visit lender to review Rivers Leasing terms.
More info
Company stats
Loan range
Rates and debtor rules
Benefits
- Competitive rates from 4%
- Mid-range facilities up to £100k
- Asset-backed lending focus
Need to know
- Trading history may be assessed
- Asset eligibility checks apply
- Deposits or valuations possible
Expert take
Rivers Leasing is a solid mid-market option for businesses refinancing assets between £5,000 and £100,000. Their competitive starting rates reward borrowers with strong asset quality.
Aldermore Asset finance
Published loan range£1,000 to £10,000,000
Rate typeinterest 5% to 15%
Overview: Aldermore provides asset refinance facilities from £1,000 to £10,000,000, offering one of the widest ranges available for UK businesses looking to unlock equity from owned assets.
Rates span 5% to 15% depending on asset type, value and borrower profile. Their broad appetite covers vehicles, plant, machinery and equipment across most industry sectors.
Best next step: Visit lender to check Aldermore refinance terms.
More info
Company stats
Eligibility
Loan range
Rates and debtor rules
Benefits
- Wide range: £1k to £10m
- Covers most asset types
- Serves diverse industry sectors
Need to know
- Rates vary widely by risk profile
- Asset type and condition matter
- Underwriting process applies
Expert take
Aldermore's broad range makes them a versatile asset refinance option. They can serve sole traders refinancing a single van as well as larger firms releasing equity from plant and machinery fleets.
Source:https://www.aldermore.co.uk/business/business-finance/asset-finance/
Close Brothers
Published loan rangeNot published
Rate typeinterest 3.5% to 10%
Overview: Close Brothers is a well-established name in UK asset finance, offering refinance solutions for businesses that own vehicles, machinery or equipment and need to raise working capital.
With interest rates from 3.5% to 10%, they offer competitive pricing for asset refinance. Their lending is backed by decades of experience in asset-based funding across a variety of sectors.
Best next step: Visit lender to explore Close Brothers terms.
More info
Company stats
Rates and debtor rules
Benefits
- Competitive rates from 3.5%
- Decades of asset finance experience
- Multi-sector expertise
Need to know
- Loan range not publicly listed
- Asset type and value matter
- Full underwriting assessment required
Expert take
Close Brothers brings deep asset finance heritage to the refinance market. Their competitive starting rates make them worth considering, though borrowers should enquire directly about facility limits.
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How Asset Refinance Works for UK Businesses
Asset refinance lets you raise capital against assets your business already owns. You sell an asset such as a vehicle, machine, or piece of equipment to a lender. The lender then leases it back to you under a finance agreement. You continue using the asset as normal throughout the term.
The lender pays you a lump sum based on the asset's current market value. You then make fixed monthly repayments over an agreed period, typically one to seven years. Once the agreement ends, ownership of the asset returns to your business.
This type of finance does not require you to buy new equipment. It turns owned assets into working capital you can use for any business purpose: managing cash flow, buying stock, funding growth, or covering unexpected costs. The asset itself acts as security, which can make approval more straightforward than unsecured borrowing. However, the lender can repossess the asset if you fail to keep up with repayments.
What Types of Assets UK Businesses Can Refinance
Most tangible business assets can be refinanced, provided they hold resale value and are owned outright or have significant equity. Common asset types include:
- Commercial vehicles: HGVs, vans, fleet cars, minibuses, and specialist vehicles such as refrigerated trucks or tippers.
- Plant and machinery: Excavators, forklifts, crushers, generators, and manufacturing equipment.
- Agricultural equipment: Tractors, combines, sprayers, and balers.
- Industrial equipment: CNC machines, printing presses, production lines, and packaging machinery.
- Construction equipment: Diggers, dumpers, rollers, and concrete mixers.
Lenders prefer assets with a clear resale market and predictable depreciation. Older assets or highly specialised equipment may be harder to refinance. The asset must be free of existing finance. If you still owe money on hire purchase or a lease, you will need to settle that first. Some lenders also consider softer assets like IT equipment or office furniture, though advance rates are typically lower for these.
Asset Refinance vs Hire Purchase and Finance Leases
These three products often cause confusion, but they serve different purposes for UK businesses:
Asset refinance: You already own the asset. You sell it to a lender and lease it back. The goal is to release cash from something you own. Ownership returns to you at the end of the agreement.
Hire purchase: You want to acquire an asset you do not yet own. You pay a deposit, then make monthly payments. Ownership transfers to you after the final payment.
Finance lease: You use an asset without ever owning it. The lender buys it and rents it to you. At the end, you return the asset or sell it on the lender's behalf and keep a share of the sale proceeds.
For businesses that already have equity tied up in vehicles or machinery, asset refinance is the relevant option. It frees up capital without requiring a new purchase. Hire purchase and leasing, by contrast, help you acquire assets you need but do not yet own.
Typical Advance Rates and LTV for UK Asset Refinance
Lenders do not advance the full market value of an asset. Typical advance rates range from 60% to 80% of the asset's current worth, depending on several factors.
The type of asset matters most. Hard assets like construction plant and commercial vehicles with strong resale markets tend to attract higher advance rates. Softer or more specialist assets may see rates closer to 50%. Age and condition also affect the valuation. Newer assets in good working order secure better terms. Lenders use independent valuers or industry guides like CAP for vehicles to determine current market value.
Loan-to-value, or LTV, is the percentage the lender will advance against that valuation. A lender offering 70% LTV on a machine worth £100,000 would give you £70,000. Depreciation risk drives conservative valuations. The lender needs confidence that the asset will still cover the outstanding balance if they must repossess and sell it. Understanding these limits helps you set realistic expectations before approaching a provider.
