Bottom line: Aldermore plant finance starts from 5.8% APR on Finance Lease for new plant and from 6.3% APR on Hire Purchase. Sole traders can access rates from 6.8% APR. Aldermore requires at least 12 months' trading history but applies more flexible underwriting than high-street banks, making them particularly useful where other lenders have declined or offered punitive rates.
Current Aldermore Plant Finance Rates
Rates are indicative as of October 2026. Your actual rate depends on credit profile, trading history, asset type, and loan-to-value. Aldermore's underwriting is case-by-case rather than purely score-driven.
| Asset / Borrower Type | Finance Type | Rate From | Typical Term | Notes |
|---|---|---|---|---|
| New plant (limited company) | Hire Purchase | 6.3% APR | 2–7 years | 12+ months trading. 10–20% deposit typically required. |
| New plant | Finance Lease | 5.8% APR | 2–7 years | Lower monthly cost vs HP. Asset off balance sheet. |
| Used plant | Hire Purchase | 7.4% APR | 2–5 years | Case-by-case on older or high-hours machines. |
| Sole trader plant finance | Hire Purchase | 6.8% APR | 2–5 years | Flexible underwriting. SA302s / tax returns required. |
Rates are indicative only. Your confirmed rate will be provided in writing following credit assessment.
Who Aldermore Plant Finance Works Best For
Sole trader strength
One of the most competitive lenders in the market for sole trader plant finance. Uses SA302 income evidence and looks at the underlying business rather than a corporate structure.
Flexible underwriting
Underwriters assess the full trading picture - including seasonal revenue patterns, recent contract wins, and asset quality - rather than relying solely on credit scoring models.
12-month minimum trading
Requires 12 months of trading history, which is longer than Close Brothers (6 months) but still significantly below most high-street banks. This is the key threshold to be aware of.
Construction sector focus
Aldermore's asset finance division has developed real expertise in construction equipment. They understand residual values and don't apply the blanket discounting that general banks often apply to plant.
Whole-market comparison
Through Doulton Bridging Finance, your Aldermore application is assessed alongside Close Brothers, Shawbrook, and other panel lenders. You get the best available terms, not just one lender's offer.
Finance Lease option
Aldermore's Finance Lease product can reduce monthly outgoings versus Hire Purchase and keeps the asset off your balance sheet - useful for businesses managing their balance sheet ratios.
Aldermore vs Close Brothers for Plant Finance
The two most frequently compared lenders for UK plant finance are Close Brothers and Aldermore. Here is how they differ in practice:
- Minimum trading: Close Brothers accepts 6+ months; Aldermore requires 12+ months.
- Sole traders: Aldermore is specifically strong here; Close Brothers is primarily focused on limited companies.
- Decision speed: Close Brothers offers same-day decisions under £100k; Aldermore typically takes 24–48 hours.
- Auction purchases: Close Brothers accepts these routinely; Aldermore is more selective.
- Adverse credit: Both lenders require reasonably clean credit; for adverse credit cases we look at Shawbrook or specialist lenders.
- New plant rates: Close Brothers is marginally lower on like-for-like facilities; Aldermore compensates with more flexible assessment for borderline cases.
As your broker, we assess both and present the one - or combination - that delivers the best outcome for your specific situation.
What Aldermore Needs from You
To obtain credit terms from Aldermore, we will typically need to provide the following on your behalf:
- Last 2 years' accounts or SA302s (sole trader) or company accounts (limited company)
- Last 3–6 months' business bank statements
- Details of the asset: make, model, age, condition, and source (dealer, auction, private sale)
- Proposed deposit and loan amount
- Director / sole trader ID and proof of address
- Brief explanation of the business and how the asset will be used
We collate this information and present it to Aldermore in the format their underwriters prefer - which materially improves both decision speed and the rate offered.