Lease Finance Limited, registered at 1 George Street, Wolverhampton, WV2 4DG. Company Register number is 02408059. is Authorised and Regulated by the Financial Conduct Authority. Our FCA registration number is 731735. You can check via www.register.fca.org. We are registered with the ICO Z7482009 and you can check via www.ico.org.uk.
We conduct both regulated and unregulated business and source finance from a panel of lenders. Instead of receiving commissions, we charge a broker fee that varies based on the amount financed. This approach ensures our independence and alignment with your best interests. The fees can be found on our fees page.
HOW WE WORK WITH YOU
We aim to find a competitive and suitable finance solution based on our understanding of your situation and needs from the panel of asset finance lenders that we work with. Other options may be available in the market.
We want to help you to make an informed decision about your finance options. We may visit you at your business premises and discuss your funding needs and your firm’s financial situation. We aim to develop a strong understanding of your business so that we can match available financial products to your exact needs. Alternatively, we may arrange an online meeting or call to go through the same details.
We will provide details of one or more possible solutions to you. We will help you to understand different asset finance options and how they compare to other finance products. We will not provide specific advice or a recommendation on whether to proceed but if you are unsure about any finance product or option, please ask us to assist. We will always be happy to speak to anyone who supports you and your business.
We cannot provide specific advice over the accounting and tax implications for your business of different products. If you need further help, we recommend you speak to your accountant or consult the British Business Bank’s Finance Hub (https://www.british-business-bank.co.uk/finance-hub/other-forms-of-finance/).
If you decide a finance product is right for your needs and wish to proceed, we will introduce you to the relevant lender and help you to make the application.
HOW WE ARE PAID
Under our non-commission model, we do not receive a commission from our lenders for our services. Instead, we charge a broker fee based on the amount financed, which ensures our independence and alignment with your best interests.
We do not receive commission from lenders, meaning that our advice is unbiased and focused solely on your needs. This approach allows us to work for you without any conflicts of interest. We are happy to discuss our fee structure and how it reflects the work we do to meet your requirements. For more information, please visit our fees page.
We believe the fee we charge is fair for the work we do:
What We Do for Your Fee
With over 35 years of experience in the asset finance industry, we believe that the fee we charge fairly reflects the comprehensive work we undertake to facilitate finance agreements and support our customers throughout the duration of their contracts.
Initial Consultation:
We begin with an initial call to discuss your requirements and gather relevant information to provide an indicative quote.
Information Gathering:
We collect and organise the necessary information to support your proposals. This includes transforming mobile phone screenshots of bank statements into clear, legible PDF documents, researching and producing reports from public record sites such as Companies House and VOSA, and generating reports from credit reference agencies like CreditSafe.
Understanding Your Business:
Our team engages in telephone conversations with each customer to gain a thorough understanding of their business operations, leveraging our extensive industry experience to better meet their needs.
Proposal Creation:
We develop a comprehensive proposal tailored to lenders that best suit your needs. The initial lender is selected based on various factors, including credit report data, the customer’s banking activity, offered security (such as deposits or director guarantees), and the strength of a director’s guarantee (for instance, home ownership). We also take into account the type, age, and cost of the asset, along with the customer’s current exposure to lenders.
Handling Declines:
If a proposal is declined by a lender, we analyse the reasons for rejection and leverage our industry knowledge to seek alternative funding options that may be more suitable.
Post-Acceptance Process:
Once a proposal is accepted, we liaise with the supplier to arrange the invoice and collect necessary documentation (such as asset photos or inspection arrangements), which can occur anywhere in the UK.
We gather and organise the finance documents for signature, and we strive to meet new customers in person for their first deal, which can also take place anywhere in the UK.
Finalising the Agreement:
After the paperwork is signed, we compile a comprehensive payout pack to ensure all conditions of acceptance are met. This may involve confirming bank details or obtaining updated photos or asset inspections from the supplier.
We coordinate with customers regarding deposit payments, which may be made directly to the supplier, requiring an updated invoice.
Ongoing Support:
We follow up with the lender regarding payout progress and keep the customer informed. Once the deal is finalised, we schedule calls and alerts to remind them of any potential deferred VAT payments, secondary lease rental payments, and end-of-term details.
Throughout the duration of the agreement—potentially lasting up to five years—we remain available to answer any questions and offer advice on the agreement and any other financing needs they may have, drawing on our decades of expertise to provide the best possible support.
COMPLAINTS PROCEDURE
In the unlikely event that you have a complaint about our service, please contact us:
- In writing: Andrew Molyneux, Lease Finance Limited, Regus House, Herons Way, Chester Business Park, Chester, CH4 9QR
- By telephone: 01939 291323
- Email: [email protected]
We will acknowledge your complaint within [five working days]. We aim to resolve complaints within [two weeks] and to provide a final response to all complaints within [four weeks].
If you are not satisfied with our response to your complaint, you may be able to refer the matter to the Financial Ombudsman Service (FOS). This applies to consumers and most small businesses. Details of which businesses can use the service are available at https://sme.financial-ombudsman.org.uk/complain/can-help.
You must contact FOS within six months of the date of our final response letter to you.
They can be contacted in the following ways:
- Post: Financial Ombudsman Service, Exchange Tower, London, E14 9SR
- Telephone: 0300 123 9 123
- E-mail: [email protected]
- Website: financial-ombudsman.org.uk
PERSONAL DATA
Personal information which you provide to us may be used for business purposes including:
- To keep records of your needs and requirements
- To prepare enquiries and applications that we will submit to finance companies
- For accounting and regulatory purposes
We may share information about you with credit reference agencies, finance companies and other businesses to help them make lending decisions and for fraud prevention.
If you decide to arrange a finance agreement using our services, we will keep your data until [five years] after the end of that contract. If you do not arrange a finance agreement using our services, we will keep your data until [three years] after your enquiry.
Please contact us at [email or phone] to cancel your consent for the processing of your personal data or to obtain more details about your rights to find out what personal data we hold about you, to have this corrected, restricted or deleted, or to complain about how we have handled your data.
For more details, please see our Privacy Policy https://www.lease-finance.com/privacy
We are registered with the Information Commissioner for Data Protection: Z7482009
ABOUT ASSET FINANCE
The aim of this sheet is to help our clients to decide whether asset finance is the most suitable product for their needs. We will be delighted to discuss this further with you to ensure you have all the information you need to make an informed decision.
DO I NEED ASSET FINANCE?
The main options for financing newly acquired equipment are:
- Purchase outright for cash
- Bank facility
- Raise new capital
- Rent for a short period (typically less than one year)
- Take out an asset finance agreement. A lender will purchase the equipment from the supplier you have selected, at the price you have negotiated. You will then hire or lease the equipment from the lender.
In deciding which option to select, relevant factors may include:
- Whether you have the cash to buy outright
- How long you need the equipment for
- Costs of the different options
WHAT TYPES OF ASSET FINANCE ARE THERE?
Most asset finance arrangements involve paying a deposit and then monthly payments. The key difference between products is what happens at the end of the agreement and who gets title to the equipment.
- Hire Purchase: At the end of the agreement there is an option to purchase the equipment. If the option is not taken up, the equipment needs to be returned to the lender.
- Conditional Sale: At the end of the agreement, you automatically take ownership of the equipment.
- Lease: At the end of the agreement, there is no option to purchase. The agreement can usually be extended, you may be offered the option to sell the asset on behalf of the lender, or the equipment can be returned to the lender. You do not get title.
In deciding which option to select, relevant factors may include:
- How long you expect to use the equipment for
- The income or corporation tax, VAT, and accounting treatment of the product
- The terms and conditions of the agreement
WILL ASSET FINANCE BE SUITABLE?
Asset finance may be suitable in the following circumstances:
- If alternative forms of borrowing are more expensive overall or not available
- If you are concerned that a loan facility may be withdrawn (asset finance facilities generally cannot be withdrawn during the agreed term of the facility)
- You require relatively fast and straightforward access to finance
Asset finance may not be suitable in certain circumstances:
- If you have ready access to cash or any less expensive alternative form of borrowing
- If you are not sure if you will need the equipment for the minimum contract period
- If you are not sure the equipment will be maintained and kept in a useable condition for the minimum contract period
For more details of factors affecting suitability, see the Guidance published by the British Business Bank (https://www.british-business-bank.co.uk/finance-hub/leasing-hire-purchase/)