Restructure your debt. Improve your cash flow.
Asset refinancing involves replacing an existing finance agreement with a new one, typically to secure a better interest rate, extend the repayment term to lower monthly outgoings, or consolidate multiple agreements into one.
Key benefits
- Reduce monthly outgoings by extending the term
- Consolidate multiple finance agreements into one payment
- Potentially secure a lower interest rate
- Release equity if the asset is worth more than the settlement figure
- Improve immediate cash flow constraints
Who is it for?
Companies looking to streamline their outgoings, businesses that have improved their credit rating since taking out original finance, or those looking to release equity from partially paid assets.
How it works
We assess your current settlement figures and the current market value of the assets. We then secure a new facility that pays off the old lenders, leaving you with a single, restructured and often more manageable monthly payment.
Frequently asked questions
Can I refinance equipment I'm already paying HP on?
Yes. We obtain a settlement figure from your existing lender, arrange a new facility at better terms, and use the proceeds to clear the old agreement.
What if my asset is worth more than the outstanding balance?
You may be able to release that equity as additional working capital while resetting the repayment term.
Does refinancing affect my credit score?
Closing old accounts and opening a new one can cause a short-term fluctuation, but a successful refinance at better terms typically improves your standing within six months.