Refinance is a finance facility which provides a simple way of releasing equity in unencumbered assets or assets nearing the end of their original finance arrangements. The result is a speedy cashflow boost to a customer’s working capital.
The customer invoices the sale of the assets at current market value (or slightly less) to the new finance company who then incepts a new finance agreement and the customer receives the sale proceeds less any residual finance that may have still been outstanding to the original funder.
It can also be a useful way of restructuring existing finance agreements to result in a lower monthly repayment, whilst continuing to have the use of the assets.
The new finance agreement can be either Hire Purchase or Finance Lease, depending on the customer’s particular circumstances, over a fixed period of time, usually a maximum of 5 years.
To find out more information please contact Nicole using your preferred method of contact below