Aldermore for Compactor Finance
Aldermore Bank operates through the broker channel for asset finance and has built a reputation for lending to businesses that fall outside the appetite of the larger clearing bank asset finance arms. For compactor finance, they are particularly relevant for:
- Sole trader groundwork contractors financing a plate compactor (£5,000–£25,000)
- Smaller limited companies with 12–24 months trading history
- Contractors financing used pedestrian rollers or older vibrating plate equipment
- Earthworks businesses requiring finance for sub-base compaction equipment
Aldermore is not always the cheapest option for well-established contractors with strong balance sheets - for those clients, Close Brothers, Lombard, or Novuna may offer keener rates. But for smaller operators who cannot access the mainstream tier, Aldermore fills an important gap in the market.
October 2026 Rate Indicatives
| Asset Type | Finance Type | Indicative Rate | Term | Min Value |
|---|---|---|---|---|
| Plate compactor (small format) | Hire Purchase | 8% – 14% | 1–3 yrs | £5,000 |
| Pedestrian roller | Hire Purchase | 7% – 13% | 2–3 yrs | £5,000 |
| Ride-on drum roller (used, 5–10 yrs) | Hire Purchase | 8% – 14% | 2–4 yrs | £10,000 |
| Ride-on drum roller (new) | Hire Purchase | 5.5% – 9% | 2–5 yrs | £15,000 |
| Soil compactor (mid-range) | Finance Lease | 6.5% – 11% | 2–4 yrs | £10,000 |
| Earthworks compaction fleet (used) | Hire Purchase | 9% – 14% | 2–3 yrs | £5,000 |
Rates are indicative as of October 2026. Sole trader applications and businesses under 18 months trading will tend to attract higher rates within these ranges.
Strengths & Limitations
Strengths
- £5,000 minimum - covers plate compactors and small rollers
- Sole traders genuinely considered
- Newer businesses (12+ months) can access finance
- Used equipment including older compactors considered
- Broker-friendly with accessible credit team
- Straightforward hire purchase structure
Limitations
- Rates are higher than mainstream lenders for strong credits
- Maximum advance more restricted on older assets
- Decision may require more supporting documentation for sole traders
- Less competitive for large fleet or high-value assets
- No operating lease product