What is Asset Finance Compared™?

Asset Finance Compared is a unique platform that compares a wide panel of funders and delivers an instant Decision in Principle.

Once you’re happy to proceed with the quote, we handle everything in-house, liaising with you and the supplier and arranging payout of the funds.

Everything can be handled online, but you also have the option to speak to a member of the team at any time.

What information do you need from me?

All we need are your contact details, some information about your business and details of the asset that you’re buying.

Once you’re happy to proceed with the quote, we will need an electronic copy of your identification, but this can be verified online, so there’s no need for a visit.

Do your searches leave a footprint on my credit file and when do you undertake these searches?

In order to meet ‘Know Your Customer’ (KYC) requirements of our funders, Midlands Asset Finance Limited asks for your permission to undertake searches to confirm your residency and identity.

The searches, known as ‘soft searches’, do not leave a footprint on your file or affect your credit rating. This part of the process is to protect you.

For sole proprietorships or partnerships, a full credit search will be required by the funder in order for the transaction to be formally credit-approved. These searches are recorded on your credit report and can be seen by other funders.

For limited companies and LLPs trading less than three years, full credit searches on the directors may be required for the transaction to be formally credit-approved. These searches are recorded on your credit report and can be seen by other lenders.

How do you verify my identity?

Once the deal is credit-approved and you have decided that you want to proceed, we will ask you to provide an electronic copy of your passport or photo driving licence to evidence your identity.

Your identity is then checked electronically through our verification process without the need for us to visit you.

What about security?

Your security is paramount to us. We use various credit data reference agencies to verify your residency and identity to protect you from any potential fraudulent activity.

Once the deal is credit-approved and you have decided that you want to proceed, we will ask you to provide an electronic copy of your passport or photo driving licence to evidence your identity.

Your identity is then checked through our verification process without the need for us to visit you.

Copies of your identification are not stored on the website platform but are stored on a secure server.

How is Asset Finance Compared™ different from other websites?

We assess everything through the platform to deliver an instant Decision in Principle in 60 seconds.

We won’t redirect you to elsewhere to go through the process again, or say we’ll get in touch with you to provide a quote at a later date.

Once you’re happy to proceed with the quote and you’ve accepted the terms and conditions, we handle everything in-house.

It can all be handled online, but you also have the option to speak to a member of the team at any time.

And if you’re a start-up or business in the early stages of trading, we can still issue an instant quote.

What if I don’t know who the supplier of the asset is yet?

That’s not a problem. We can still provide you with an instant Decision in Principle, but we will need details of the supplier before we obtain final credit approval.

We can liaise with you on the phone or by e-mail to manage the timing through to payout once you are happy with the quote.

How competitive is the quote?

We compare a wide panel of funders to find the rate that is most suited to your circumstances.

We will issue you with our most competitive quote and you can then decide if you want to progress.

The platform will also link to the credit score of your business, so the quote is issued with a high degree of confidence for established businesses.

Will you look at start-ups or businesses that have only traded for 1-2 years?

Yes, we will. We have funders for all types of businesses that may be in the early years of trading.

For start -ups, we may ask for further information, but we will get in touch to discuss this as required after issuing our initial quote.

We want to understand your business and goals so we can help as much as possible to assist you in growing.

Should I choose Hire Purchase or Finance Lease?

Click here for an explanation of the two types of finance we offer through the website.

If you would like to further discuss the products offered further, please contact us.

Can I speak to someone?

Yes.

Once the quote is issued, we will be in touch to discuss the timing of the payout of the deal and will liaise with you and the supplier throughout the process.

However, if you have any questions at any time, you can get in touch by calling us on 01773 864864 or e-mailing us on [email protected].

What happens if I want to borrow more than £100,000?

For transactions over £100k, and there is no limit here, click here to fill in a simple finance request form.

Once completed, one of our relationship managers will contact you to discuss your requirements and provide you with a quote or arrange a visit.

Who is eligible to use the website?

We provide quotations for trading businesses and limited companies operating in the UK whose owners or directors are UK residents.

Please note, the minimum age of business users obtaining a quotation is 18 years of age.