Key Features And Benefits:
- Refinance is a finance facility that provides a simple way to releasing equity in unencumbered assets or assets nearing the end of their original finance arrangements. The result is a speedy cashflow boost to a customer’s working capital;
- The customer invoices the sale of the assets at current market value (or slightly less) to the new finance company who then incepts a new finance agreement. The customer receives the sale proceeds minus any residual finance that may still have been outstanding to the original funder;
- It can also be a useful way of restructuring existing finance agreements to result in a lower monthly repayment whilst continuing to have the use of the assets;
- The new finance agreement can be either Hire Purchase or Finance Lease, depending on the customer’s particular circumstances. This is over a fixed period of time, usually up to a maximum of 5 years.
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