Asset Finance
Get more from your assets
Need new equipment to grow, but can’t foot the costs outright? Get what you need now and spread the cost as you stagger your payments over a manageable period of time
Fuel your business
Spread the cost of the assets your business needs to grow, including machinery, vehicles and equipment
Additional cash
Does your company already own valuable assets but needs more cash flow? We can refinance your assets to help
Monthly repayments
Pay your assets off in manageable fixed instalments – we can even factor in seasonal cash flow to make it easy
Talk to us about your asset finance now
Contact us online
Give us a call
Contact our dedicated teams
If you’re looking to know more about Asset Finance, feel free to contact our Business Development Support team on 01483 663 679. Alternatively, if you have an existing Asset Finance agreement with Metro Bank please contact our Customer Services Team on 0148 344 5544.
If you would like to visit us in store, our team is currently only based in our Guildford store, located at 35-37 North Street, Guildford, Surrey, GU1 4TE.
Please send all email enquiries to directassetfinance@metrobank.plc.uk.
More information
More information
Deposit
Initially, you’ll just pay the agreed deposit – typically 10% + VAT of the asset value. It works a lot like getting a mortgage for a house.
Our refinancing option
If you already own equipment and/or machinery outright, we may be able to help you unlock the capital tied up in it.
We use a “sale and lease back” structure – you sell us the asset, which gives you a chunk of money to invest in your business. Then you lease the asset back from us so you can continue using it. You might be able to raise up to 75% of the asset value.
Payments and interest charges
Payments and interest charges
| Deposit | Documentation fee | Interest rate | Maximum term |
|---|---|---|---|
| 10% + VAT | Typically £299 | Fixed in advance | 7 years |
Interest rate
We’ll set the interest rate in advance, depending on the type of asset and the market conditions. The rate doesn’t change during the term – you know exactly how much you’ll repay.
Monthly repayments
You pay fixed monthly repayments over the course of the loan. This can be up to 7 years depending on the asset. If you have seasonal cash flow fluctuations, we can often arrange for you to make larger payments when you’re likely to have more ready cash available.
Get all the details on Asset Finance
Download our PDF to read when you like - it contains all the ins and outs of our Asset Finance.
Frequently asked questions
What assets can I fund?
You can fund physical business assets like machinery and cars. As rule of thumb, assets must be DIMS: Durable; Identifiable; Moveable; Saleable. We can also fund some ‘soft’ assets like telecoms equipment and computers.
If you want to buy pre-owned assets, we’ll usually have them independently valued before we agree to offer you financing.
What sectors do you support?
We can provide asset finance for many businesses including those operating in:
Agriculture
Bus and coach transport
Corporate transport
Construction
Manufacturing
Engineering
Healthcare
Classic and prestige cars
If your industry isn't listed here, we still may be able to help you. Get in touch with us to see how.
How much does it cost?
Your fixed monthly payments cover the money you’re borrowing and 2 other costs:
1. A documentation fee - typically £299. This is a fee charged at the beginning of the facility, to reflect the cost of drawing up the facility documents. It is a variable fee determined on a case by case basis depending on the complexity of the deal.
2. Interest charged at an agreed fixed rate which is added to the principal at the start of the agreement. This rate will vary depending upon market conditions and the specific nature of the asset being acquired. You will pay a fixed monthly instalment for the term of the contract.
How long can I get the finance over?
That depends on the asset and its useful lifespan. The maximum length of time is 7 years. Whether we provide finance depends on credit checks and approval.
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