Last Updated
Compare Simply Asset Finance vs Close Brothers Asset Finance
Simply Asset Finance and Close Brothers Asset Finance both actively offer asset finance in the UK, so this is a straight like-for-like comparison for business owners looking to fund equipment, vehicles, or machinery. Simply Asset Finance covers asset finance through its official site, while Close Brothers Asset Finance offers it through its official asset finance page. The main differences are usually in product range, pricing transparency, and how much hand-holding you want during the process. In plain terms, both are specialist lenders, but they do not sit at exactly the same point on cost, service, and appetite for more complex deals.
- Neither lender publishes a simple public rate card for asset finance, so pricing is usually quote-based and depends on the asset, deposit, term, and your credit profile.
- Close Brothers looks more established and may suit businesses wanting a broad specialist finance relationship, while Simply feels more focused and modern in its online journey.
- Both are better suited to asset purchases and refinancing than to general working capital, because the facility is built around the asset itself.
- Deal sizes and final terms vary, and both lenders are likely to assess the quality of the asset as well as the business behind it.
- If you want a quick shortlist, the real choice is often between service style, funding structure, and how standard your business profile looks.
Products and terms at a glance
Both lenders operate in the same broad space, but the detail matters. Simply Asset Finance presents itself as a UK asset finance specialist and says it helps businesses buy equipment, free up working capital, and invest in growth, based on its homepage and services page. Close Brothers Asset Finance is also a specialist provider, with asset finance covering hire purchase, leasing, and refinancing according to its product page. In other words, both are focused on funding hard assets, not general-purpose borrowing.
| Feature | Simply Asset Finance | Close Brothers Asset Finance |
|---|---|---|
| Core asset finance products | Hire purchase, leasing, refinancing and asset equity release, based on the lender's services page | Hire purchase, leasing and capital release, based on the lender's asset finance page |
| Public minimum and maximum deal size | Varies, not clearly published on the official site | Varies, not clearly published on the official site |
| Security | Usually secured against the asset itself, depending on structure | Usually secured against the asset itself, depending on structure |
| Soft search or indicative quote | It has an apply now page that suggests an eligibility check, but a soft search is not clearly stated | An indicative or soft search is not clearly stated on the public pages we found |
| Own book or securitised | Varies, not clearly stated publicly | Varies, not clearly stated publicly |
| Top-ups or renewals | Varies, not clearly published | Varies, not clearly published |
| Early repayment | Early settlement terms are not clearly published on the public site | Early settlement terms are not clearly published on the public site |
What you can take from that is simple. Neither lender gives away a lot of hard numbers upfront, so this is not a product where you can compare everything from a rate card alone. That is normal in asset finance, where the quote often reflects the asset type, age, resale value, deposit, term, and whether the deal is hire purchase or lease. The official sites we found do not publish fixed public limits, so if deal size matters to you, you will need a quote.
Close Brothers looks slightly more traditional in the way it describes its range, and it is part of a larger banking group. Simply feels more streamlined and relationship-led, with a more direct digital journey. Neither is a self-serve marketplace. Both are specialist lenders rather than general business loan platforms.
Costs and repayments in practice
Asset finance pricing in the UK is usually quote-based, not a simple advertised APR. That means the total cost of borrowing depends on the asset, the amount borrowed, the term, the deposit, the condition of the asset, and the strength of the business. For most deals, the lender will build the cost into regular repayments, and if you are using hire purchase, you may own the asset at the end once you have made the final payment. Leasing can work differently, with the asset often returned, renewed, or sometimes bought at the end, depending on the agreement.
We could not verify public lender-specific APRs, rate cards, arrangement fees, or early settlement charges for either lender from the official pages we found. That is common for specialist asset finance. So the right way to think about this is: both lenders are quote-led, and the quote is shaped by risk. Lower-risk assets, stronger trading history, and cleaner credit profiles usually price better. Older equipment, more specialist assets, and weaker credit can push the cost up.
Interest rates and APRs for asset finance
For context, current UK market research shows asset finance rates are often discussed in annual rate terms rather than a standard consumer-style APR. Public market guides in 2026 suggest mainstream asset finance pricing can start in the mid-single digits for strong applicants, while broader market ranges can run much higher depending on risk and asset type, according to Merchant Savvy, Clifton Private Finance, and the British Business Bank guide to asset finance. Those are market guides, not lender quotes, so they give you a range, not a promise.
For asset finance, the pricing model is usually interest-based and quote-led, not factor-rate based. That matters because total repayable can be affected by fees and the payment structure as well as the headline rate. A deal that looks similar at first glance can cost more or less overall once you include any setup fee, documentation fee, broker fee, and the effect of a balloon payment.
| Pricing point | Simply Asset Finance | Close Brothers Asset Finance | Market context |
|---|---|---|---|
| Public rate or APR | Not publicly stated | Not publicly stated | UK asset finance is usually quote-based and varies by risk profile |
| Arrangement fee | Varies, not publicly confirmed | Varies, not publicly confirmed | Broker or introducer fees may also apply indirectly |
| Early repayment charge | Not clearly published | Not clearly published | Settlement terms can differ by agreement |
| Repayment structure | Fixed repayments are commonly used, depending on product type | Fixed repayments are commonly used, depending on product type | Monthly payments are standard for hire purchase and lease agreements |
Here are two illustrative examples so you can see how the maths works when rates are not public.
Example 1
Finance amount: £25,000
Term: 48 months
Rate assumption: 9% APR, illustrative
Monthly repayment: £622
Total repayable: £29,856
Example 2
Finance amount: £75,000
Term: 60 months
Rate assumption: 10.5% APR, illustrative
Monthly repayment: £1,614
Total repayable: £96,840
Those examples are not lender quotes. They are there to show how an asset finance deal can look once you spread the cost over time. In practice, the real quote may be lower or higher depending on the asset, the term, and the lender's risk view.
On risk appetite, both lenders sit above the mainstream high street bank model in flexibility, but they are not last-resort lenders. They appear to serve ordinary SMEs as well as more specialist cases, although neither official site spells out a detailed public list of excluded credit profiles. Simply's public material suggests a business-focused, specialist approach through its FAQs and application pages. Close Brothers presents itself as a long-established specialist lender through its asset finance page and group site. If your credit history is weak, the lender may still look at the deal, but pricing and approval will usually reflect the added risk. If your business is strong and the asset is standard, you are more likely to see sharper pricing from the broader market, including banks or bank-owned finance arms.
Speed and service
Speed in asset finance is usually about how quickly you can get a decision, how many documents the lender needs, and whether the deal is standard or more specialised. Simply Asset Finance appears to lean into a more digital and responsive service model. Its homepage talks about helping British businesses grow, and its apply now page suggests a guided enquiry process. Close Brothers Asset Finance is more established and relationship-led, with enquiries handled through its enquiry form and support pages. That usually points to a more traditional specialist lender experience rather than a purely online journey.
We could not verify exact funding times or SLA-style decision deadlines from either lender's public pages, so the honest answer is that speed varies. In general market terms, asset finance can move fairly quickly once the asset and documents are clear, but it is rarely as instant as an unsecured online loan. Bigger or more complex deals take longer because the lender has to assess the asset as well as the borrower.
Trustpilot data is mixed. Simply Asset Finance did not surface a clear dedicated Trustpilot profile in the search results we found, so a verified score was not available from the search evidence. Close Brothers, via its main company profile on Trustpilot, shows a 3.7 out of 5 score from a large review base, though that profile covers the wider group rather than just asset finance. That means it is useful for service themes, but not a clean asset-finance-only score.
On complaints, Simply's complaints page explains how to raise an issue and gives contact details. Close Brothers' complaints procedure does the same. We did not find firm-level FOS uphold data for either lender that was specific to asset finance. So the safest reading is that both have formal complaints routes, but there is no clean public uphold comparison for this product.
For an SME owner, the practical takeaway is this. If you want a more guided, possibly quicker-feeling specialist process, Simply may appeal. If you want a larger group with a long track record and a traditional relationship approach, Close Brothers may feel more familiar. Neither is a pure self-serve platform.
Who each lender suits
Both lenders are most relevant if you want to buy, refinance, or release value from a business asset. That includes plant, machinery, vehicles, and other hard assets. Simply says it funds British businesses and supports equipment purchase and working capital release, based on its homepage and services page. Close Brothers says it can help you purchase new equipment or refinance existing assets on its asset finance page. So the overlap is strong, but there are still differences in fit.
Simply Asset Finance looks best for businesses that want a specialist lender with a fairly direct route into funding. Its public pages suggest a broad small and mid-sized business audience, but they do not spell out hard eligibility thresholds like minimum turnover or trading history. That means the public evidence is limited, so eligibility is best described as varies. From the style of the business, it looks suitable for SMEs buying standard assets, and for owners who want a lender that is focused on asset deals rather than general lending.
Close Brothers Asset Finance looks stronger if you want a more established brand with a wider specialist finance ecosystem behind it. The group page at Close Brothers' what we do page shows a broader lending footprint across SME finance. That usually makes it a good fit for businesses that want a more traditional relationship with a finance house. It may also suit borrowers who have dealt with Close Brothers before and want to renew or expand an existing relationship, although renewal and top-up rules were not clearly published on the pages we found.
How Simply Asset Finance compares with other asset finance providers
Simply sits more in the specialist lender camp than the bank camp. It is not a marketplace and it is not a general unsecured lender. That means it is likely to be more asset-focused than a high street bank, and possibly more flexible on structure than some mainstream lenders. On the other hand, banks and big bank-owned lenders can sometimes be cheaper for very strong, standard deals because they have lower funding costs and a broader balance sheet. We could not verify a live quote here, so that is market context rather than a promise.
Simply's strengths appear to be its focus on business equipment finance, its direct service style, and its use of asset finance as a core product rather than a side line. If your deal is standard and you value a straightforward specialist conversation, that can work well. If your business profile is unusually complex, a larger specialist house or a bank-backed lender may still be in the mix, depending on the asset and the sector.
How Close Brothers Asset Finance compares with other asset finance providers
Close Brothers looks like a more established specialist, and that can matter when you are comparing providers. It is not a bank in the everyday sense, but it does sit inside a major UK financial group. That often means it feels more conservative than smaller niche lenders, while still being more flexible than a high street bank on some asset deals. Publicly, it offers hire purchase, leasing, and refinancing, which gives it a fairly broad product base for an asset finance provider.
Compared with other specialist lenders, Close Brothers may appeal if you want breadth and an established servicing setup. Compared with banks, it may be easier to use for non-standard asset deals, though banks can still be cheaper for the cleanest profiles. Compared with unsecured business loan providers, it is usually a better fit when the funding is clearly tied to an asset, because the loan is structured around that asset rather than general cash flow. Again, that is the public-product view, not a live quote comparison.
How to apply
The application process for both lenders is similar at a high level. You normally start with an enquiry, give details about your business and the asset, and then wait for a tailored quote or assessment. Simply directs users toward its apply now page, while Close Brothers uses an enquiry form. Neither lender looks like a pure click-and-buy platform. In practice, expect a conversation rather than a fully automated checkout.
Documents commonly needed for asset finance include business bank statements, recent management accounts, filed accounts, details of the asset being bought or refinanced, and sometimes ID and proof of address for directors. If the deal is larger or more complex, the lender may ask for more supporting information. That is standard across the market, because the lender needs to assess both the business and the asset.
If you are comparing the two, a useful question is whether you want a lender to guide the process closely or whether you are happy with a more traditional finance-house approach. Simply appears a bit more digital and direct. Close Brothers looks a bit more established and relationship-based. Neither looks broker-only, and both can be approached directly through their official sites.
Not sure which lender fits your situation? A commercial finance broker can submit one application and compare live quotes from multiple asset finance providers at once, including both lenders covered in this article. Funding Agent works with a panel of UK lenders and can help match your business to the most suitable option.
Frequently asked questions
Is asset finance a good option for buying equipment?
Yes, if you want to spread the cost of a business asset rather than pay upfront. It is often used for equipment, vehicles, and machinery, because the finance is tied to the asset itself.
Which lender is more transparent on pricing?
Neither lender publishes a simple public rate card for asset finance, so both are quote-based. That means transparency depends on the quote you receive, not on a headline rate page.
How does Close Brothers Asset Finance compare with other asset finance providers?
It looks like an established specialist lender with a broad product range for asset deals. Compared with banks, it may be more flexible on structure. Compared with some smaller specialists, it may feel more established and relationship-led.
How does Simply Asset Finance compare with other asset finance providers?
It looks like a focused specialist lender with a more direct online journey. It seems best suited to SMEs that want asset-specific funding without going through a general bank loan process.
Can I use asset finance instead of an unsecured business loan?
Yes, if the funding purpose is to buy or refinance a specific asset. An unsecured loan is more general-purpose, but it can be pricier and may not suit asset-only purchases as neatly.
Final verdict
Choose Simply Asset Finance if:
- You want a specialist asset finance lender with a more direct digital journey.
- Your deal is for standard equipment, vehicles, or machinery and you want an asset-focused conversation.
- You are happy with quote-based pricing and do not need a public rate card.
- You value a lender that feels focused on SMEs rather than a broad banking group.
Choose Close Brothers Asset Finance if:
- You want a long-established specialist lender with a wider group behind it.
- You are looking for hire purchase, leasing, or refinancing in one place.
- You prefer a more traditional relationship-led finance experience.
- You want a provider that sits comfortably in the mainstream specialist asset finance market rather than the pure online lending space.
If you are still unsure which option suits your business, Funding Agent can compare live asset finance quotes from multiple UK lenders in a single application. There is no obligation and it will not affect your credit score.
Sources
Official sources
- Simply Asset Finance homepage
- Simply Asset Finance services
- Simply Asset Finance apply now
- Simply Asset Finance FAQs
- Simply Asset Finance complaints
- Simply Asset Finance terms and conditions
- Close Brothers Asset Finance product page
- Close Brothers Asset Finance enquiry form
- Close Brothers Asset Finance complaints procedure
- Close Brothers Group what we do
Third-party sources
- FCA register, Simply Asset Finance Operations Limited
- FCA register, Close Brothers Limited
- Companies House, Simply Asset Finance Operations Limited
- Companies House, Close Asset Finance Limited
- Trustpilot, Close Brothers reviews
- British Business Bank, what is asset finance
- Merchant Savvy, asset finance market guide
- Clifton Private Finance, asset finance rates
.png)
