Hp Fixed

Fixed interest with a flexible repayment pattern to match your needs.

Our most popular hire purchase (HP) option, it offers accurate budgeting and the security of fixed repayments that protect against rising interest rates.

Our fixed rate HP offers all the benefits of ownership without the initial capital outlay. Payments, made up of capital and fixed interest, may be repaid monthly, quarterly, half-yearly or annually, and are fixed for the full period of the agreement. A bespoke repayment pattern that matches your business’s income and expenditure cycles can be custom-made.

The goods become yours once all the payments have been made.

 Benefits of HP Fixed:

• The goods are yours after the final payment
• Interest rate is agreed and fixed at the time of documentation
• Fixed repayments for capital and interest
• Accurate budgeting
• VAT is usually fully reclaimable
• Hedges against inflation and interest rate rises
• Interest charges are usually tax allowable
• Tax writing-down allowances may be available, including the Annual Investment Allowance or super-deduction

What happens at the end:

• You pay a nominal option-to-purchase fee at the end of the agreement, and ownership transfers to you

 How it compares:

If you are a business with limited liability (limited, public or limited liability partnership), a partnership with 4 or more partners or are borrowing over £25,000 and you would like to make lump sum payments or settle in full early, our HP Plus, HP Variable or HP Equalised Payment may be more attractive.