Our most popular Hire Purchase (HP) option, offering accurate budgeting and the security of fixed repayments that protect against rising interest rates.

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

The asset becomes yours once all the payments have been made.

 Benefits:

• Interest rate agreed and fixed at time of documentation
• Fixed repayments of capital and interest
• Accurate budgeting
• Hedge against inflation and interest rate rises
• VAT fully reclaimable
• Tax writing down allowances available including the Annual Investment Allowance
• Interest charges are tax allowable
• The machine is yours after the last payment

 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 full settlement early our HP Plus, HP Variable or HP Equalised Payment may be more attractive.