About Close Brothers Crane Finance
Close Brothers Asset Finance has longstanding experience in specialist construction plant, and crane finance is a significant part of their construction portfolio. For established crane hire companies with clean credit and well-maintained assets, Close Brothers frequently offers the most competitive terms available in the market outside of Lombard (NatWest) and Siemens Financial.
Close Brothers' crane finance appetite covers mobile all-terrain cranes (Liebherr LTM, Grove GMK, Tadano ATF), rough terrain cranes (Terex RT, Grove RT series) and crawler cranes for larger construction projects. Tower cranes present a different underwriting consideration - they are typically project-tied assets that work better under operating lease structures, and Close Brothers' appetite here is more selective.
For high-value crane purchases (£500k–£5m+), Close Brothers' structured credit team can arrange bespoke facilities that go beyond standard HP or finance lease terms, including fleet revolving facilities that allow drawdown as assets are acquired. This makes them an important lender for growing crane hire businesses looking to scale their fleet.
Close Brothers Crane Finance Rates Table - October 2026
| Crane Type | Finance Type | Rate Range | Term | Min Finance | Max Finance |
|---|---|---|---|---|---|
| Mobile crane (new) | HP or Finance Lease | 4.5%–7.5% | 3–7 yrs | £25,000 | £5m+ |
| Mobile crane (used <5 yrs) | HP or Finance Lease | 6.5%–9.5% | 2–6 yrs | £10,000 | £3m |
| Mobile crane (used 5–10 yrs) | HP | 8.5%–12% | 2–4 yrs | £10,000 | £1.5m |
| Rough terrain crane | HP or Finance Lease | 5%–10% | 2–6 yrs | £10,000 | £2m |
| Tower crane | Finance Lease / case by case | 6%–11% | 3–7 yrs | £25,000 | £2m |
| Crane fleet facility | HP or Finance Lease | 5%–8.5% | 3–7 yrs | £100,000 | £5m+ |
Indicative rates as of October 2026. All rates subject to credit underwriting and asset assessment.
Close Brothers vs Other Crane Finance Lenders
| Lender | Rate From | Max Finance | Best For |
|---|---|---|---|
| Close Brothers | 4.5% | £5m+ | Mobile cranes, fleet, established businesses |
| Lombard (NatWest) | 4% | £10m+ | Large companies, 100t+ mobile cranes |
| Siemens Financial | 4% | No cap | High-value, operating lease, fleet |
| Shawbrook | 5% | £3m | Used cranes, complex profiles |
Strengths and Limitations
Strengths
- Very competitive rates for strong-credit crane hire companies
- High maximum finance (£5m+) suitable for large mobile crane purchases
- Active on mobile, rough terrain and crawler cranes
- Fleet facilities available - suited to growing crane hire businesses
Limitations
- Limited appetite for tower cranes - Siemens Financial or operating lease specialists are better here
- Businesses with CCJs or adverse credit will struggle - consider Shawbrook or specialist lenders
- Very high-value crane deals (£5m+) may be better handled by Lombard or Siemens for optimal pricing