Aldermore Bank is one of the UK's most accessible specialist lenders for small and medium-sized construction businesses. Their material handling finance offering - covering rough terrain forklifts, site lifters and smaller lifting equipment - is well-suited to smaller housebuilders, independent groundwork contractors and subcontractors who may not meet the tighter criteria of larger lenders.
With a minimum deal size of just £5,000 and a broader credit appetite, Aldermore regularly funds deals that Close Brothers or Lombard may decline. The trade-off is that their headline rates start slightly higher, though for the right applicant the practical rate can still be highly competitive.
Aldermore Material Handling Finance Rates - October 2026
| Finance Type | Rate Range (APR) | Term | Min. Amount | Ideal Applicant |
|---|---|---|---|---|
| Hire Purchase (HP) | 5.5% – 10% | 24–60 months | £5,000 | SME contractors, clean credit |
| Finance Lease | 6% – 11% | 24–60 months | £5,000 | VAT-registered businesses |
| Used Equipment HP | 7.5% – 14% | 12–48 months | £5,000 | Second-hand forklift finance |
| New Business / Start-up | 9% – 14% | 12–36 months | £5,000 | <2 years trading, with deposit |
| Minor Adverse Credit | 10% – 14% | 24–48 months | £5,000 | Satisfied CCJs, previous issues |
Equipment Types Aldermore Finance for Construction Sites
- Rough terrain forklifts - all makes including Manitou, JCB, Merlo, Bobcat
- Industrial counterbalance forklifts repurposed for housebuilding use
- Rough terrain pallet trucks and material movers
- Small to mid-range telehandlers where material handling is the primary use
- Access platforms and overhead lifters for frame construction
- Crane grabs and attachment kits for existing plant
Why Smaller Contractors Choose Aldermore
Aldermore's appeal to smaller housebuilders and construction subcontractors comes down to three factors: their lower minimum deal size of £5,000, their willingness to consider cases that major lenders decline, and their practical speed of decision. For a groundwork company buying a second-hand Manitou MT 932 at £18,000 with two years' accounts and a modest blip on their credit file, Aldermore is often the most practical route.
Strengths and Limitations
£5,000 minimum - lowest among major lenders
Covers entry-level rough terrain forklifts, used equipment purchases and smaller lift packages that other lenders won't touch.
Broader credit appetite
Aldermore considers satisfied CCJs, limited trading history and other adverse credit scenarios that many prime lenders automatically decline.
Fast decisions for SMEs
Typically 24–48 hours. Aldermore's underwriting team is experienced with SME profiles and doesn't require the same volume of financial documentation as bank-backed lenders.
Good used equipment appetite
Aldermore is more willing than some lenders to finance older or higher-mileage rough terrain forklifts where a trade record shows reliable use.
Higher rates than prime lenders
For a clean-credit, well-established business, Aldermore's rates are 1–2 percentage points above Close Brothers or Lombard. Always worth benchmarking.
Lower max deal sizes for complex cases
For adverse-credit or limited-history applicants, Aldermore's exposure limits are lower, which may restrict larger equipment purchases or fleet deals.
Aldermore good, but is it the best rate available to you?
We access 130+ lenders including Close Brothers, Lombard and Novuna. Let us benchmark Aldermore before you commit.