Solutions
Refinance
Re-finance helps to release capital to support businesses expansion or restructuring. It is a popular product to help fund acquisitions, consolidate existing agreements or to reduce monthly outgoings. It is a simple and effective method of releasing equity to provide capital injections to boost cash reserves.
Understanding Refinance
Sale & HP Back – Mirrors HP agreement, however you (customer) will already have purchased the asset and the bank/funder will pay you back the money and the HP kicks in.
Re-finance on HP – Mirrors HP agreement, however you are releasing capital against an asset that you (customer) already owns.
Sale & Lease Back – Mirrors a FL agreement, however you (customer) will already have purchased the asset and the bank/funder will pay you back the money and the FL will then be implemented.
Hire Purchase Information
Hire Purchase Regulation Features
Suitable Customers
It is important that you know if a product is suitable for you. All finance agreements are subject to underwriting, it is essential that you read and understand any finance agreement prior to signing.
Regulated requirements
- UK Based customers
- Sole Traders purchasing an asset under £25k
- Partnerships (3 or less individuals) purchasing an asset under £25k
- Membership clubs or Trusts purchasing an asset under £25k
- Individual / Director purchasing a vehicle for personal or business use (including High net-worth individuals (HNWI*) purchasing a vehicle under £60,240)
- *(High net worth individual – someone who earns more than £150k per annum or net assets exceeds £500k)
- Over 18 years
- Customers with the ability to repay the agreed rentals.
- Customers who can make payments via direct debit
Unregulated requirements
- UK Based customers
- Sole Traders purchasing an asset over £25k
- Partnerships (3- individuals) purchasing an asset over £25k
- Partnerships (4 + individuals)
- Limited companies. Limited Liability Companies PLCs
- High Net Worth Individual – Asset over £60,240
- Over 18 years
- Customers with the ability to repay the agreed rentals.
- Customers who can make payments via direct debit.
Product Purpose
It is important that you know the purpose of each of the products we offer. By understanding what there are designed for gives you a greater understanding of how they will work for you.
Regulated requirements
The purpose of these products is to provide finance for identifiable equipment, allowing customers to spread the cost of the asset purchase. Predominately supporting agricultural, golf, industrial, construction, haulage & logistics, professionals, IT and many more.
Re-finance helps to release capital to support businesses expansion or restructuring, MBO / MBI, acquisitions, consolidation of existing agreements to reduce monthly outgoings, provide capital injections to boost cash reserves.
Unregulated requirements
The purpose of these products is to provide finance for identifiable equipment. Predominately supporting agricultural, golf, industrial, construction, haulage & logistics, professionals, IT and many more.
Releasing capital to support businesses expansion or restructuring, MBO / MBI, acquisitions, consolidation of existing agreements to reduce monthly outgoings, provide capital injections to boost cash reserves.
Product Characteristics & Benefits
It is essential that you understand the characteristics and benefits of our products and how they work. They all have both legislative and regulatory differences as well as more practical considerations to consider.
Regulated requirements
- Terms from 12 months – 72 months, some assets will allow up to 120 months. Heavy commercial or leisure assets may have different terms. 6 months for fertiliser.
- Monthly, quarterly, half yearly & annual payment profiles allowed.
- Offers all the benefits of ownership without the initial capital outlay.
- You will get immediate and unlimited use of the asset.
- Fixed rentals and flexible payment structures allow businesses to match income and expenditure cycles.
- Prime location of the asset must be in the UK
- Balloon payments can reduce the rental costs (Only available on certain assets)
- Ability to finance the balloon payment at the end of the agreement.
- If you are classed as a HNWI you may be asked to prove your HNWI status
- *(High net worth individual – someone who earns more than £150k per annum or net assets exceeds £500k)
Unregulated requirements
Terms from 12 months – 72 months, some assets will allow up to 120 months. Heavy commercial or leisure assets may have different terms. 6 months for fertiliser.
Monthly, quarterly, half yearly & annual payment profiles allowed.Offers all the benefits of ownership without the initial capital outlay. You will get immediate and unlimited use of the asset. Fixed rentals and flexible payment structures allow businesses to match income and expenditure cycles. Prime location of the asset must be in the UK Balloon payments can reduce the rental costs (only valid on
specific assets)
Pricing & Fees
Products have different fees and pricing depending on type, term and regulatory governance it is essential you read and understand any product features relating to pricing and fees prior to signing.
Regulated requirements
- Fixed pricing, interest bearing over a fixed period.
- Variable deposits and balloons can vary the monthly repayments in line with company income.
- VAT is paid upfront in most instances; some banks allow VAT
- deferrals for up to 3 months or spread the VAT over the term.
- The agreement may be settled, partially or in full, at any time throughout the term (sometime fees may apply).
- Upfront processing fees may apply. Option to purchase fee may apply.
- Charges may apply if you miss any payments. See below.
- Right to withdraw within 14 days applies
- Voluntary Termination available. If you select to have a balloon payment, you are responsible for this payment.
- Lump sums throughout the life of the agreement may be able to be paid to some funders and rentals recalculated for the remaining term. It does not reduce the term, just the rental amounts.
- Commission is paid to the broker for this type of introduction, if you wish to know more email compliance@peregrinefinance.co.uk
Unregulated requirements
- Fixed pricing, interest bearing over a fixed period. Variable deposits and balloons can vary the monthly repayments in line with company income.
- VAT is paid upfront in most instances, there is the option however to defer the VAT for up to 3 months or spread the VAT over the term.
- The agreement may be settled, partially or in full, at any timethroughout the term (sometime fees may apply).
- Upfront processing fees may apply.
Option to purchase fee may apply.
Charges may apply if you miss any payments. - If you select to have a balloon payment, you are responsible for
this payment. - Commission is paid to the broker for this type of introduction, if you wish to know more email compliance@peregrinefinance.co.uk
Risks & Considerations
Entering into any financial contract is to be done with due consideration to risk. It is essential you read and understand any financial product prior to signing. If you have any doubt in understanding the risks to you as a customer you must seek clarification from the finance provider.
Regulated requirements
- Missed payments may impact the customers credit rating and
result in the asset being repossessed. - Ownership of the assets remains with the funder until all payments have been made.
- After the withdraw period, customers cannot cancel the agreement without settling off the outstanding payments, fees may apply.
- Not suitable if you want to trade in your asset at the end of the term for a new asset (consider lease options)
- Not suitable for retail consumers.
- Additional Security maybe requested by the finance company such as a personal or company guarantees.
- Additional Security charges could apply:
- Late payment fees
- Direct debit represented fee
- Settlement charges (standard or new business)
- Termination fees
- Novation charges
Unregulated requirements
- Missed payments may impact the customers credit rating and result in the asset being repossessed.
- Ownership of the assets remains with the funder until all payments have been made.
- Not suitable if you want to trade in your asset at the end of the term for a new asset (consider lease options)
- Not suitable for retail consumers.
- Additional Security maybe requested by the finance company such as a personal or company guarantees.
- Additional charges could apply (some are listed below)
- Late payment fees
- Direct debit represented fee
- Settlement charges (standard or new business)
- Termination fees
- Novation charges
Vulnerability
We have a broad spectrum of customers from SME to PLC businesses, we treat everyone with due care any consideration and it is imperative that our customers understand what they are agreeing, we look to support any customer with additional requirements or needs.
Regulated requirements
Our customers come first. We want to ensure that you fully understand what you are agreeing to.
If you require additional support, you must make your broker aware so they can offer the most suitable support.
Unregulated requirements
Our customers come first. We want to ensure that you fully understand what you are agreeing to.
If you require additional support, you must make your broker aware so they can offer the most suitable support
Finance Lease Information
Finance Lease Regulation Features
Suitable Customers
It is important that you know if a product is suitable for you. All finance agreements are subject to underwriting, it is essential that you read and understand any finance agreement prior to signing.
Regulated requirements
- UK Based customers
- Sole Traders purchasing an asset under £25k
- Partnerships (3 or less individuals) purchasing an asset under £25k
- Membership clubs or Trusts purchasing an asset under £25k
- Individual / Director purchasing a vehicle for personal or business use (including High net-worth individuals (HNWI*) purchasing a vehicle under £60,240)
- *(High net worth individual – someone who earns more than £150k per annum or net assets exceeds £500k)
- Over 18 years
- Customers with the ability to repay the agreed rentals.
- Customers who can make payments via direct debit
Unregulated requirements
- UK Based customers
- Sole Traders purchasing an asset over £25k
- Partnerships (3- individuals) purchasing an asset over £25k
- Partnerships (4 + individuals)
- Limited companies. Limited Liability Companies PLCs
- High Net Worth Individual – Asset over £60,240
- Over 18 years
- Customers with the ability to repay the agreed rentals.
- Customers who can make payments via direct debit.
Product Purpose
It is important that you know the purpose of each of the products we offer. By understanding what there are designed for gives you a greater understanding of how they will work for you.
Regulated requirements
The purpose of these products is to provide finance for identifiable equipment where ownership is not the priority.
Predominately supporting agricultural, golf, industrial, construction, haulage & logistics, professionals, IT and many more.
Unregulated requirements
- The purpose of these products is to provide finance for identifiable equipment where ownership is not the priority. Predominately supporting agricultural, golf, industrial, construction, haulage & logistics, professionals, IT and many more
Product Characteristics & Benefits
It is essential that you understand the characteristics and benefits of our products and how they work. They all have both legislative and regulatory differences as well as more practical considerations to consider.
Regulated requirements
- This is a hire agreement, a customer will not get ownership of the asset,
they hire it from the funder. Popular choice for customers where usage is
more important than ownership. - Unlimited use of an asset.
- Terms from 24 months – 60 months.
- Heavy commercial assets may have
different terms. - Monthly, quarterly, half yearly & annual payment profiles allowed.
- Can trade in the asset at the end of the agreement to get a new asset
again. - Customers will get immediate use of a business use asset.
- Fixed payments and flexible payment structures allow businesses to match
income and expenditure cycles. - Balloon payment will reduce the rentals (only valid on specific assets)
- Ability to finance the balloon payment at the end of the agreement
Unregulated requirements
- This is a hire agreement, a customer will not get ownership of the asset,
they hire it from the funder. Popular choice for customers where usage is
more important than ownership. - Unlimited use of an asset.
- Terms from 24 months – 60 months.
- Heavy commercial assets may have
different terms. - Monthly, quarterly, half yearly & annual payment profiles allowed.
- Can trade in the asset at the end of the agreement to get a new asset
again. - Customers will get immediate use of a business use asset.
- Fixed payments and flexible payment structures allow businesses to match
income and expenditure cycles. - Balloon payment will reduce the rentals (only valid on specific assets).
- Ability to finance the balloon payment at the end of the agreement.
Pricing & Fees
Products have different fees and pricing depending on type, term and regulatory governance it is essential you read and understand any product features relating to pricing and fees prior to signing.
Regulated requirements
- Fixed pricing, interest bearing.
- At the end of the agreement the agreement can be extended into
- Secondary period rentals unless terminated (discuss options with your broker)
- VAT is paid throughout the lifetime of the agreement against each rental.
- Upfront processing/ document fees may apply.
- If selling the asset on, a Rebate fee may apply when terminating the agreement.
- Termination can happen prior to the end of the term however charges may apply.
- Right to withdraw within 14 days applies
- If you select to have a balloon payment, you are responsible for this payment.
- Commission is paid to the broker for this type of introduction, if you wish to know more email compliance@peregrinefinance.co.uk
- Fixed pricing, interest bearing.
Unregulated requirements
- Fixed pricing, interest bearing.
At the end of the agreement the agreement can be extended into Secondary period rentals unless terminated (discuss options with your broker) - VAT is paid throughout the lifetime of the agreement against each rental. Upfront processing/ document fees may apply.
- If selling the asset on, a Rebate fee may apply when terminating the agreement.
- Termination can happen prior to the end of the term however charges may apply.
- If you select to have a balloon payment, you are responsible for this payment.
- Commission is paid to the broker for this type of introduction, if you wish to know more email compliance@peregrinefinance.co.uk.
Risks & Considerations
Entering into any financial contract is to be done with due consideration to risk. It is essential you read and understand any financial product prior to signing. If you have any doubt in understanding the risks to you as a customer you must seek clarification from the finance provider.
Regulated requirements
- Missed payments may impact the customers credit rating and result in the asset being repossessed.
- After the withdraw period, customers cannot cancel the agreement without settling off the outstanding payments, fees may apply.
- Not suitable for retail consumers.
- Not suitable if you want to own the asset (consider HP agreements if you
want this) - Additional Security maybe requested by the finance company such as a
personal or company guarantees.
Additional charges could apply (some are listed below) - Late payment fees
- Direct debit represented fees
- Settlement charges (standard or new business)
- Termination fees
- Novation charges
Unregulated requirements
- Missed payments may impact the customers credit rating and result in the asset being repossessed.
- Not suitable for retail consumers.
- Not suitable if you want to own the asset (consider HP agreements if you
want this) - Additional Security maybe requested by the finance company such as a
personal or company guarantees. - Additional charges could apply (some are listed below)
- Late payment fees
- Direct debit represented fees
Vulnerability
We have a broad spectrum of customers from SME to PLC businesses, we treat everyone with due care any consideration and it is imperative that our customers understand what they are agreeing, we look to support any customer with additional requirements or needs.
Regulated requirements
- Our customers come first. We want to ensure that you fully understand what you are agreeing to.
If you require additional support, you must make your broker aware so they can offer the most suitable support
Unregulated requirements
- Our customers come first. We want to ensure that you fully understand what you are agreeing to.
- If you require additional support, you must make your broker aware so they can offer the most suitable support.
