What is Refinance?
Refinancing is a financial strategy that involves raising capital from an existing asset. The process can be applied to unencumbered assets (those without existing finance obligations) or assets that are currently under finance agreements. This capital can be used for various purposes, such as working capital, debt consolidation, business expansion, or the acquisition of new equipment.
What type of assets can be refinanced?
Many types of assets can be refinanced from plant and machinery, to cars, light commercial vehicles and HGVs. Businesses can also benefit from refinancing a balloon they may have on a finance agreement.
If you have made a purchase in the last 3 months and are looking to obtain finance on this, a sale and HP back is an option that would allow a lender to fund the asset for you in retrospect.
