Fixed Rate Hire Purchase the monthly repayments are made up of capital and fixed rate of interest.
This may be repaid by monthly or quarterly rentals and they are fixed for the full period of the agreement.
We can also look at designing different Fixed FINANCE SOLUTIONS to match the business needs such as Holiday Payments, Pauses and Low Deposits depending on the income and expenditure cycle of your business.
Also known as Balanced Payment Plan is a variable rate Hire Purchase agreement with the benefit of fixed monthly payments.
Interest is calculated daily at an agreed percentage over Finance House Base Rate (FHBR), and is repayable monthly or quarterly.
When the base rate fluctuates , only the number of payments varies but the amount of payment says the same, thus helping your monthly budgets and cash flow administration.
It is also possible to settle the entire agreement early and only pay the interest up to the date of the settlement. Lump sums can also be paid off and further reduce the overall interest charges.