Owned outright
Evidence the ownership and value
Prepare purchase records, asset identification, photographs where requested, service history and any available valuation evidence.
Asset refinance
Asset refinance for UK businesses
Direct answer: asset refinance uses the value in an eligible vehicle, item of plant or machine as part of a new finance agreement. It may release working capital or replace existing finance, subject to the asset, settlement position, business and provider assessment.
NBS Finance is a commercial finance broker and introducer, not a lender. A provider decides the valuation basis, amount, rate, fees, security and terms.
Asset refinance quick scan
| Question | Useful starting detail | Why it matters |
|---|---|---|
| What is the asset? | Make, model, serial or registration, age, hours or mileage and condition | The provider must identify and value it |
| Who owns it? | Purchase evidence or current finance agreement | Ownership and existing security must be clear |
| Is finance outstanding? | Current balance and settlement figure | Existing finance may need to be settled first |
| Why refinance? | Working-capital purpose or reason for restructuring | The provider assesses the complete business proposal |
Assets generally need a clear identity, commercial use, acceptable condition and sufficient remaining useful life. A valuation is not the same as the amount a provider may offer.
Owned outright or already financed?
Existing finance
Start with the settlement position
Provide the agreement and current settlement figure. A new arrangement may need to settle the existing provider before any remaining funds are available.
Decision check
Review cost as well as cash released
A longer term can change periodic payments while increasing total cost. Review fees, security, guarantees and consequences of missed payments.
How the refinance enquiry progresses
Describe the assets
Share an asset schedule, ownership or finance details, condition and reason for refinancing.
Clarify value and settlement
NBS Finance reviews the information and discusses any missing valuation or agreement details.
Provider assessment
Where an appropriate route is identified, a provider carries out its own business, asset and affordability checks.
Asset refinance questions
Does the business have to own the asset outright?
Not always. A provider may consider an asset with existing finance if it can be settled and the overall proposal fits its criteria.
Is the available amount the same as market value?
No. Providers can use a cautious valuation and deduct existing finance, fees or a margin for risk.
Can several assets be refinanced together?
Yes, several assets can be refinanced as a grouped proposal. Each asset still needs clear identification, ownership evidence, condition, market value and enough remaining useful life; the provider then sets the combined eligible value.
Will refinance reduce the payments?
No reduction can be promised. Compare the whole payment schedule and total cost, not only a periodic payment.
Review the trade-offs
Understand valuation, settlement and cost
The guide explains the refinance structure, information to prepare and questions to ask before proceeding.
Tell us about the assets
Start with ownership, existing finance, condition and the reason for refinancing.