Other finance options
Got an idea to move your business forward?
Whatever direction you decide to take your business we can support you in finding the right lending solution.
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Commercial Mortgage
- When you’re looking for new business premises, talk to us.
- Apply for a minimum of £25,001 and choose a loan term from three to 25 years.
- Borrow up to 70% of the property value and in some cases we can lend more.
- Choose between a Bank of England Bank Rate linked or fixed interest rate.
- Capital repayment holidays may be available.
If you wish to borrow on other terms we may still be able to help you.
Residential Buy-to-let Mortgage
- If you'd like to grow your capital or rental income by extending your property portfolio, talk to us about our buy-to-let mortgages.
- Apply for a minimum of £25,001 and choose a loan term from three to 25 years.
- Borrow up to 70% of the property value and in some cases we can lend more.
- Choose between a Bank of England Bank Rate linked or fixed interest rate.
- Capital repayment holidays may be available.
If you wish to borrow on other terms we may still be able to help you.
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Asset Finance
- Funding for all types of assets from farm vehicles to plant and office equipment.
- Competitive interest rates.
- Response to funding requests within 24 hours.
- A fast and efficient phone-based service.
Invoice Financing
- Receive up to 90% of the value of unpaid invoices, typically within 24 hours.
- Pay suppliers without having to wait to receive payment from your customers.
- Fund growth with less risk by borrowing an amount that can increase as your turnover grows.
- Use business assets to finance growth.
Vehicle Contract Hire
- Competitive monthly rentals.
- Reduced operational risk: pay a budget-friendly, fixed monthly rate.
- Can be VAT efficient for most companies.
- Potential to free up business capital.
- Optional maintenance to reduce administration costs.
- Vehicles are 'off balance sheet' and therefore not seen as a fixed asset.
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The Bank of England Bank Rate is the official Bank Rate set by the Bank of England which can affect interest rates offered by Banks, Building Societies and other financial institutions. By changing the official Bank Rate, the Bank of England seeks to influence overall borrowing in the economy.
The Bank Rate has been consistently low for a number of years.
However as the UK economy improves, the Bank of England is likely to increase the official Bank Rate.
The current Bank of England Bank Rate is 0.10% (effective from 19th March 2020).
Changes in the Bank Rate could affect payments on any accounts you may hold with us, such as loans, overdrafts, commercial mortgages or deposits.
Use our Rate change calculator to work out how a change in Bank Rate could affect your loan repayments.
Business Overdraft
- Free to set up an overdraft with a limit of £5,000 or less.
- Simple Pricing.
- Apply for a limit that suits your business needs.
Business Overdraft Pricing
- 11.52% EAR representative* (varies with Bank of England Bank Rate) for unsecured overdrafts up to £25,000.
|
Limit |
Rate |
Fee |
Other Information |
|---|---|---|---|
|
Limit £5,000 or less |
Rate 10.85% per year above the Bank of England Rate |
Fee £12 p/m usage fee |
Other Information
|
|
Limit £5,001 - £25,000 |
Rate 10.85% per year over the Bank of England Rate |
Fee 1.99% Annual Fee (min £120) |
Other Information
|
|
Limit £25,001 + |
Rate Tailored Rates |
Fee Annual Fee |
Other Information
|
Important information
EAR stands for equivalent annual rate. It is the rate you would pay if you go overdrawn to the full limit of your facility for the entire year. It takes into account the interest rate you are charged as a result and how often it’s charged – in this case interest is calculated daily and charged monthly. It then takes into account the effect of compounding – charging interest on interest – on your debt. Charges for unarranged overdrafts are charged separately.
* ‘Representative’ means the rate at or below which the Provider reasonably expects, at the date on which the publication, display or communication is made, that credit would be provided under for at least 51% of the credit agreements which will be entered into as a result of the publication, display or communication.
Our representative EAR applies to all unsecured overdrafts with a borrowing amount of up to £25,000 for businesses with a turnover of up to £3 million. This figure is not necessarily the rate you will be receiving and is for illustrative purposes only.
Overdrafts are repayable on demand.
An entrepreneur guide
Find information and inspiration from a variety of experts.
ANY PROPERTY GIVEN AS SECURITY, WHICH MAY INCLUDE YOUR HOME, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR OTHER DEBTS SECURED ON IT.
All lending is subject to a satisfactory credit assessment and we will need your permission to carry out a credit check on you and your business.
You should not apply for an amount that you cannot comfortably afford to repay now and in the future to avoid the possibility of legal action.
All lending is subject to status. Security may be required.
We adhere to The Standards of Lending Practice which are monitored and enforced by the Lending Standards Board (LSB)