Small Rise in Long Term Interest Rates
There has been a small increase of around 0.1% in the 4 & 5 year cost of funds this month. However fixed rates still remain very attractive and this follows reductions in January. Please contact us for more information.
February Down on 2014
We were 8.9% down on finance volume in February compared to 2014. However this does follow two strong months and reflects a slow enquiry level in early January. However the enquiry level has been strong since the end of January so the prospects for March are good.
Long Term Interest Rates Held
We have now received the fixed rates for February for periods up to 7 years. All lenders have held their rates at January levels with one actually reducing rates by around 0.2% across the board. Please contact us for more information.
New Funder – Arkle Finance Ltd
We have added Arkle Finance to our panel of lenders this week. They are a valuable addition for both soft and hard assets. We look forward to working with them in the future. Please contact us for more information.
Machine Refinance
Approved a £50k machine refinance on a Mori-Seiki machine this week. January usually busy for refinance following the short trading and higher cost month of December. Please contact us for more information.
Siemens Financial Services – Our First Agreement
We completed our first agreement with the Manufacturing Division of Siemens Financial Services Ltd today and we hope this will be the start of a long relationship. This was for a New Matsuura Machine costing £317,000 for a customer based in the South East. They have provided excellent service and very competitive rates and terms.
Please contact us for help, advice and quotations.
Regional Growth Fund Areas Extended
This is now available in all areas In England apart from Central London. Up to 20% of asset price available if jobs are added or safeguarded.
European Investment Bank Rebates
We are now able to consider interest rebates for machinery costing over £150,000. This is a European Investment Bank scheme available until 31st March 2013. Whilst it is only a 0.25% rebate you may as well claim it.
Please contact us for more information.
Agents For Santander Consumer Finance
I am delighted to announce that we have been approved as introducers by Santander Consumer Finance. The name may be confusing but they provide business finance as well as consumer finance for cars and vans.
They offer competitive rates and have automated systems which will help us provide good rates and service for our customers. Please contact us for help, advice and quotations.
Machinery Damage & Breakdown Cover
Machinery Damage & Breakdown Cover is an excellent product providing protection against repair costs and includes operator error cover. We have now completed over 500 agreements with the largest claim being £50k. Cover can be provided no both new machines and used machines up to 10 years old for periods of p to 7 years. Please contact us for more information.