This guide: A comparison of all mainstream and specialist lenders for MEWP and access platform finance in the UK - including rate ranges, minimum advances, and which lender suits which scenario. Updated October 2026.
All-Lender MEWP Finance Rate Comparison - October 2026
| Lender | Rate Range | Min Advance | Max Advance | Best For |
|---|---|---|---|---|
| Close Brothers | 4.5–12% | £10,000 | £5m+ | Fleet, high-value boom lifts, clean credit |
| Novuna Business Finance | 4.5–12.5% | £5,000 | £2m | New equipment, fast digital decisions |
| Aldermore | 5.5–14% | £5,000 | £2m | Adverse credit, sole traders, access hire fleets |
| Paragon Bank | 5.5–14% | £25,000 | £2m | MEWP hire company fleet finance |
| Siemens Financial Services | 4.0–9.0% | £50,000 | £10m+ | Very large fleet / high-value access platforms |
| Time Finance | 6.5–18% | £5,000 | £500k | Start-ups, adverse credit, low deposit |
| Haydock Finance | 6.0–16% | £5,000 | £1m | Construction sector, sole traders |
| Genie Dealer Finance | 5–12% | £5,000 | £500k | New Genie from authorised dealer |
| JLG Dealer Finance | 5–12% | £5,000 | £500k | New JLG from authorised dealer |
| Haulotte Dealer Finance | 5–13% | £5,000 | £300k | New Haulotte from UK dealer |
| Specialist / Challenger Lenders | 12–19% | £1,000 | £250k | Very adverse credit, new businesses |
Boom Lift vs Scissor Lift Finance - What Changes?
The asset type affects both available rates and lender appetite. Boom lifts (articulated and telescopic) are higher-value assets with stronger residual values, which means lenders are generally comfortable with longer terms and higher advances. Scissor lifts - particularly electric models - have shorter working lives and higher running costs relative to value, which can affect the advance level a lender will offer on used units.
Boom Lift Finance
- → Higher values (£40k–£150k+) = more lender choice
- → Strong residuals on Genie S-series and JLG 400S/600S
- → Longer terms available (up to 60 months)
- → Operating lease increasingly common (technology transition)
Scissor Lift Finance
- → Lower values (£8k–£65k) suit more lenders including £5k min
- → Electric models face battery obsolescence - lenders aware
- → Operating lease very popular in hire sector
- → Fleet finance well-suited to Paragon and Close Brothers
Fleet vs Single Unit MEWP Finance
Single-unit MEWP finance is straightforward - most panel lenders can accommodate it. Fleet finance (3+ units) opens additional options: dedicated fleet facilities from Close Brothers and Paragon, revolving credit lines for access hire companies, and the ability to cross-collateralise assets. Fleet buyers typically achieve rates 0.5–2% lower than single-unit buyers with equivalent credit profiles.
Operating Lease in the Access Hire Sector
MEWPs are one of the few asset classes where operating lease genuinely dominates in certain segments. Access hire companies that rent equipment to end-users are increasingly using operating lease rather than hire purchase for their own MEWP fleet. The key reasons: the transition from diesel to battery-electric platforms makes technology obsolescence a real risk; LOLER inspection costs are significant; and residual value risk on older MEWPs is hard to predict. Under an operating lease, the lender bears residual value risk, making it a much cleaner proposition for hire fleets. Speak to us if you're considering operating lease for MEWPs - it requires specialist lenders not available on mainstream panels.
Ranked Lenders by Use Case
- 1Close BrothersBest all-rounder for established businesses - high-value boom lifts, fleet finance, both HP and finance lease
- 2Novuna Business FinanceBest for new equipment with clean credit - fast digital decisions, competitive rates
- 3AldermoreBest for access hire companies with adverse credit or sole traders - flexible underwriting
- 4Paragon BankBest for MEWP hire company fleet facilities - understands the access sector
- 5Specialist/Challenger LendersBest for very adverse credit, start-ups, or situations where mainstream lenders decline