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25 Oct 2022

Why Use Lease UK and not your bank?

Why Use Lease UK and not your bank?

Why Use Lease UK and not your bank?

Often clients new to financing equipment purchases for their practice will turn in the first instance to their bankers.  They may well have borrowed from them initially to buy their practice or to acquire the freehold of the practice premises. 

This does come with possible issues

Bank funding downsides

  • Variable rate so will increase when Bank of England base rate increases
  • Minimum amount for new lend may be far more than needed
  • Lots of information required -  Slow decision making
  • Possible repay of existing CBILS or Bounce Back Loan before doing new facility
  • Any security the bank already holds will apply to this new facility plus any other security they may request for the new deal.

Lease UK is here to help!

As an independent broker we have access to a series of European finance houses, who want to fund veterinary equipment via Hire Purchase or Leasing. 

Lease UK Asset Finance benefits

  • The competition between these keep their rates competitive
  • Rates are fixed from activation of the facility so practices can budget
  • Funding from £2000 upwards available
  • The equipment itself is the main security for the finance – no debentures or charges over residential property are required.
  • Underwriting decision usually withing 1 working day
  • Keeps your bank line free for overdraft increases if needed

Food for thought indeed – For a more detailed explanation, go to our website www.leaseuk.com/leaseukvsbank  Call us on 01372 466955 or visit us at stand P64 at the London Vet Show.


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