Asset Refinance
Helping you to access refinancing solutions
/ FCA Registered
Reference: 729876
Who Are Mill Wood Finance?
Since 1999 we have been helping businesses to access bespoke borrowing solutions.
Our Ethos:
At Mill Wood Finance, we provide our customers with the professionalism, courtesy and service that is expected in all parts of our everyday lives.
Our Services
We work for our clients and not the banks that we have relationships with. We take the time to understand our customer's financial requirements and situation, before helping to advise and broker financial products best suited to them.
Unlocking capital for your business.
For over 25 years, we have been helping UK businesses to access refinancing solutions they wouldn’t be able to find on the high street.
We believe in valuable, honest, straightforward business. By working with us, you’ll have your own broker on the end of the phone rather than going through endless call centres.
Asset refinance allows your business to unlock finance in assets you already own, from machinery, equipment or vehicles. Whether you’re looking to invest in growth, consolidating existing debt, or a timely commercial opportunity – asset refinance presents a flexible and cost-effective solution.
While you continue to use the asset in the daily running of the business, the lender will hold title of the asset until repayments have been met at the end of your agreement – making asset refinance a secured form of lending.
If you want to speak to a broker who understands commercial finance, get in touch.
What types of assets can be refinanced?
IT Hardware and Office Equipment
Construction Machinery
Why choose Asset Refinance?
Working capital injection: Asset refinance allows you to free up funds for general cash flow, meaning you can be on top of stock purchases and payroll if you require an injection of capital.
Debt consolidation: Pay off multiple high interest debts and roll them into one plan, with one structured repayment plan, easing the burden of having multiple debt payment structures.
Growth and expansion: Unlock capital tied up in assets to take advantage of timely growth opportunities.
Refinancing balloon payments: Spread the cost of an existing balloon payment from a previous finance agreement, positively impacting your cash flow.
Types of Asset Refinance
Sale and Leaseback
Selling your asset to a lender and leasing it back over a fixed term. At the end of the agreement, you may have the option to extend the lease, return the asset, or negotiate a purchase price.
Key benefits:
- Lower monthly costs when compared to hire purchase
- Potentially treated as off-balance sheet (check with your accountant)
- Greater flexibility at the end of the term when deciding what to do with the asset
Sale and Hire Purchase
In this arrangement, your business sells the asset to a lender and enters a hire purchase agreement to buy the asset back over time. Ownership transfers back to your business once all payments (including any balloon payments) have been made.
Key benefits:
- Fixed monthly payments
- Retain use of the asset throughout
- Guaranteed to regain ownership at the end of the term
Eligibility Criteria
Each lender has their own underwriting criteria, however the below list is a general guide to help you understand the factors lenders look into in asset refinance applications:
- Asset type, age and condition
- Your business trading history and financial health
- Credit profile of the business and its directors
- Any existing finance arrangements on the asset
The Mill Wood Approach
At Mill Wood, we take pride in our process and our intimate relationships with a range of lenders and finance houses. It is our role to be as flexible as possible to help you find the most suitable finance to allow your business to flourish.
We work with businesses of all sizes across the UK to structure asset refinance solutions, tailored to your business’ unique requirements. Whether you’re looking to release cash from a single asset or refinance a number of assets, we can help you access the funding your business needs.
Interested in exploring asset refinance options for your business? Get in touch with our team for a no-obligation consultation.