What is leasing?
If you want to maximise the use of your equipment without the responsibility of owning it, leasing will give you the freedom and flexibility you need. With affordable monthly payments leasing is a tax efficient method of acquiring the assets your business requires to succeed. We would always encourage our clients to seek guidance from their accountants to ensure whether a Lease or Hire Purchase is the best option, particularly with regards to VAT and tax planning.
Do I need to pay an upfront deposit?
No, upfront deposits are not required.
Are repayments fixed or variable?
Repayments are fixed to allow for easier cash flow budgeting.
Are there any tax benefits?
Assets may potentially be claimed against your taxable profit, under capital allowances, which is an advantageous tax benefit that should be explored.
What happens to my existing credit lines?
They are protected, making any further borrowing easier.
How do I apply?
Simply tell us how much you wish to finance, the purpose and the term you prefer. Our finance agreement will be tailored to suit you with fixed payments over an agreed term. In the early stages, most communication is conducted by email or phone calls, or a mix of the two, however we’re also happy to meet you face-to-face if that’s your preference. We are very flexible and adapt to your needs – we understand you’re busy during working hours, and we’re happy to speak or pick up messages and texts at a time that suits you.
Will previous negative financial decisions affect the application?
Understandably and given the tough trading conditions that Covid has brought, some clients have been known to withhold what they feel could be perceived as negative information, thinking it will lead to their application being declined. This is not the case in Braemar Finance, because we make decisions based on the overall health and future plans for the business.
Knowing everything up front means we can address any queries and explain the situation to our in-house team of underwriters, helping them to reach the right decision for us both.