Crane Finance Rates 2026 — Updated October 2026
- Crane HP rate APR range — tower, mobile, crawler (October 2026)
- 5.0%–7.5%Crane HP rate APR range — tower, mobile, crawler (October 2026)
- Typical HP term for cranes — longer than most asset classes
- 7–15 yearsTypical HP term for cranes — longer than most asset classes
- Construction Plant Competence Scheme — operator certification lenders check
- CPCS cardConstruction Plant Competence Scheme — operator certification lenders check
- Cranes retain value well — supports lower rates and longer terms
- Strong residualCranes retain value well — supports lower rates and longer terms
Crane finance rates in October 2026 range from 5.0%–7.5% APR for hire purchase on new and used cranes — positioned at the lower end of the asset finance rate range because cranes are high-value hard assets with strong residual values and an active secondary market. Tower cranes are retained for 15–25 years; mobile cranes for 10–20 years. This longevity supports longer HP terms and lower rates than shorter-lived assets like technology or fit-out.
Crane Finance Rates by Type — October 2026
Swipe the table sideways to see every column.
| Crane type | Value range | Rate (APR) | Term | Age limit (end of term) | Key requirements |
|---|---|---|---|---|---|
| Tower crane (flat-top, new) | £500,000–£3m+ | 5.0%–6.5% | 10–15 years | Typically no limit for tower — long economic life | IPAF/CPCS certified operators. Insurance. Erection cert. |
| Tower crane (luffing, new) | £800,000–£4m+ | 5.0%–6.5% | 10–15 years | Same as flat-top | Specialist survey. Foundation calculations. Insurance. |
| Tower crane (used, 10–20yr) | £150,000–£1.5m | 5.5%–7.0% | 7–12 years | Max 30–35yr overall | Engineering inspection. LOLER examination. Refurbishment history. |
| Mobile crane (all-terrain, new) | £500,000–£2m+ | 5.0%–6.5% | 7–12 years | Max 15–20yr overall | CPCS certified operator. Insurance. MoT equivalent. |
| Mobile crane (used, under 10yr) | £200,000–£1.5m | 5.5%–7.0% | 5–10 years | Max 15–20yr overall | Inspection. Full service history. Operator certification. |
| Crawler crane (used) | £300,000–£3m+ | 5.5%–7.5% | 7–12 years | Varies by lender | Specialist valuation. Transport costs significant. Insurance. |
| Spider lift / specialist access | £50,000–£500,000 | 5.5%–8.0% | 5–7 years | Max 15yr | IPAF certification. Insurance. Service history. |
What determines your rate
Tower cranes — the longest-lived asset class in finance
Tower cranes are exceptional assets in the HP finance context: they are designed for 30–40 year working lives, have an active global secondary market (cranes are bought and sold internationally), and retain value well relative to their original cost. These characteristics mean tower crane HP terms of 10–15 years are available — significantly longer than most asset classes. A tower crane bought for £2m in 2026 may be worth £500,000–£1m in 2041 — very different from a £2m technology fit-out that is worthless after 5 years. DBF's crane finance team knows which specialist lenders have the longest terms and best rates for tower cranes.
LOLER and inspection requirements
All lifting equipment in the UK must be thoroughly examined under LOLER (Lifting Operations and Lifting Equipment Regulations 1998) by a competent person at least every 12 months (6 months for cranes used to lift people). The LOLER examination certificate is required by HP lenders as confirmation the equipment is certified for operation. DBF confirms LOLER compliance as part of every crane finance enquiry.
CPCS certification — operator requirement
The Construction Plant Competence Scheme (CPCS) is the industry standard for crane and plant operators in the UK. Most HP lenders require confirmation that CPCS-certified operators are available to operate financed cranes — not necessarily employed by the borrower, but available through labour hire. DBF confirms CPCS availability as a standard part of crane finance enquiries.
Transport and installation costs for tower cranes
Tower cranes require specialist transport and erection — costs of £50,000–£300,000+ for a large luffing jib crane. These costs are not typically included in the HP facility (which covers the crane asset only). DBF advises on whether erection costs can be incorporated into a combined equipment and installation finance package, or whether they need separate funding (sometimes from a bridging loan or business finance facility).
Worked cost example
- AIA on £580,000 at 25% CT rate
- £145,000 year 1 tax saving
- Effective net cost accounting for residual
- £540,450 - £150,000 = £390,450 over 12 years
Liebherr 130 EC-B 6 flat-top tower crane. New. Price: £580,000.
Construction company, 12 years trading. Clean credit. 15% deposit: £87,000. Finance: £493,000.
HP over 12 years (specialist crane lender via DBF): 5.8% APR.
Monthly: £4,760. Total interest: £192,450. Total cost: £685,450.
Net cost after tax benefit: £540,450 — and company owns the crane at end of term.
Crane hire comparison: Liebherr 130 equivalent hire rate: £8,000–£12,000/month.
On a 24-month contract: £192,000–£288,000 hire cost. No ownership.
HP monthly £4,760 is significantly cheaper than hire within first 24 months alone.
Break-even vs hire: approximately month 7–8.
Residual value at year 12: estimated £120,000–£180,000 (active secondary market).
Quotes from 130+ lenders, same working day
The figures above are indicative and describe the best case. Send your own scenario and we will come back the same working day with terms from the lenders that actually fit it.
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Whole of market · 130+ lenders · FCA 814533 · Same working day response
Rate context and outlook
Bank Rate is 3.75% after the 17 September hold. Variable business facilities (revolving credit, invoice finance) move only with Bank Rate.
Fixed-rate hire purchase and leases are funded against swap rates, so some funders may nudge fixed pricing up after the September swap move. Quotes are typically held for 30 days.
Reviewed by David Doulton, Director, Doulton Bridging Finance — over 20 years in property finance. Last reviewed 1 October 2026. Doulton Money Ltd t/a Doulton Bridging Finance, FCA No. 814533.
Full Crane Finance Lender Rate Comparison - October 2026
| Lender | Rate from | Rate to | Min deal | Max deal | Crane types |
|---|---|---|---|---|---|
| Siemens Financial Services | 4.0% | 10.0% | £50,000 | Uncapped | Mobile, crawler, tower (high-value, structured) |
| Lombard (NatWest) | 4.0% | 11.5% | £25,000 | £10m+ | Mobile 100t+, crawler, fleet facilities |
| Close Brothers | 4.5% | 12.0% | £10,000 | £5m+ | Mobile, rough terrain; limited tower |
| Liebherr Finance (captive) | 4.0% | 8.0% | £50,000 | Varies | Liebherr LTM mobile cranes - new only |
| Manitowoc Financial Services (captive) | 4.5% | 9.0% | £50,000 | Varies | Grove, Manitowoc lattice - new only |
| Shawbrook Bank | 5.0% | 13.0% | £10,000 | £3,000,000 | Mobile (incl. used and older assets) |
| Aldermore Bank | 5.5% | 14.0% | £5,000 | £2,000,000 | Smaller mobile cranes, adverse credit |
| Haydock Finance | 6.0% | 16.0% | £5,000 | £1,500,000 | Smaller mobile cranes, SME construction |
| Novuna Business Finance | 5.0% | 13.0% | £5,000 | £2,000,000 | New and near-new mobile cranes |
| Specialist/adverse lenders | 10.0% | 18.0%+ | £5,000 | £500,000 | Adverse credit, older assets, start-ups |
Rates are indicative market ranges as of October 2026. Your actual rate depends on transaction size, asset type, business profile and chosen finance structure. Rates shown are annual percentages on HP or finance lease.
Top Crane Finance Lenders Ranked
Ranked by overall value - combining rate competitiveness, deal size capability and crane type coverage.
- 1Siemens Financial Services From 4.0% - no upper limit on deal size The strongest lender for high-value crane transactions above £500,000. Specialist capability in operating lease and structured finance for Liebherr, Grove, Manitowoc and other major brands. Best positioned for crane hire businesses with substantial balance sheets and complex requirements.
- 2Lombard (NatWest) From 4.0% - deals to £10m and above NatWest's asset finance arm with one of the widest appetites for large mobile and crawler crane transactions. Fleet revolving credit facilities are a Lombard speciality. Strong on structured deals for established crane hire companies.
- 3Close Brothers From 4.5% - deals to £5m and beyond Broad appetite across new and used mobile cranes. Good on rough terrain and all-terrain models. One of the most reliable lenders for straightforward crane HP and finance lease transactions across a wide range of business sizes.
- 4Shawbrook Bank From 5.0% - deals to £3m Strong on used and older mobile cranes that larger lenders may decline. Reliable for non-mainstream models and deals where asset age is a factor. Good fallback for transactions that Close Brothers and Lombard do not take at the rates required.
- 5Aldermore Bank From 5.5% - deals to £2m Specialist appetite for adverse credit and smaller crane hire businesses. Sole traders and limited companies with imperfect credit histories are considered where mainstream lenders decline. Rates are higher to reflect increased risk appetite.
Crane Finance Rates by Crane Type
| Crane Type | Typical Rate Range | Preferred Finance Structure | Notes |
|---|---|---|---|
| Mobile crane - new, 50–150t | 4.5%–8% | HP or finance lease | Most competitive segment; multiple lenders compete |
| Mobile crane - new, 150t+ | 4%–7% | HP, finance lease, or structured | Lombard and Siemens dominate this segment |
| Mobile crane - used, under 10 years | 6%–12% | HP | Close Brothers, Shawbrook; lender depends on age and condition |
| Mobile crane - used, 10–15 years | 8%–15% | HP | Shawbrook, Aldermore; higher rates reflect residual risk |
| Tower crane - new (project use) | 5%–10% | Operating lease preferred | Siemens Financial best placed; HP less suitable |
| Tower crane - hire company ownership | 4.5%–9% | HP or finance lease | Siemens, Lombard, Close Brothers |
| Crawler crane - lattice boom | 4%–9% | HP or structured finance | High values; Siemens and Lombard specialist |
| Rough terrain crane - new | 5%–10% | HP or finance lease | Close Brothers, Shawbrook reliable; smaller deal sizes |
7 Factors That Affect Your Crane Finance Rate
1. Crane type and specification
Mobile cranes are well-understood assets with established residual values - lenders price them more keenly than tower or crawler cranes, which require more specialist underwriting.
2. Asset age and condition
New cranes attract the lowest rates. Used cranes under 5 years from mainstream lenders are close behind. Cranes over 10 years see a significant rate premium and fewer lenders willing to fund.
3. Finance amount
Larger transactions attract lower rates. A £2m mobile crane deal will typically achieve a significantly lower rate than a £50,000 transaction - lenders' fixed costs are spread over a larger principal.
4. Business trading history
Lenders expect 2+ years of trading history and prefer 3+ years of filed accounts. Start-up crane hire businesses face higher rates and may need specialist lenders or additional security.
5. Credit history
CCJs, defaults or late payment history on the business or director credit files will increase rates or require specialist lenders. Clean credit unlocks the best rates from Lombard, Siemens and Close Brothers.
6. Finance structure chosen
HP and finance lease are priced differently across lenders. Operating lease is a more complex product and available from fewer lenders. The structure choice affects both rate and total cost.
7. Deposit percentage
A higher deposit reduces lender risk and typically results in a better rate. Putting 20%–25% down on a high-value crane can materially reduce the APR compared to minimum 10% deposit.
Find the Best Rate for Your Crane Finance
We compare lenders across the full market - from Siemens Financial and Lombard for high-value transactions to specialist lenders for adverse credit and older assets. Tell us about your crane and we will identify the most competitive lender.
Frequently asked questions
What are crane finance rates in October 2026?
New tower cranes: 5.0%–6.5% APR over 10–15 years. New mobile cranes: 5.0%–6.5% APR over 7–12 years. Used cranes (under 10 years): 5.5%–7.0% APR. Older used cranes: 6.0%–7.5% APR on shorter terms. Minimum deposit: typically 15%–20%.
What is the maximum term for crane finance?
Tower cranes: up to 15 years with specialist lenders (due to 30–40 year economic life). Mobile cranes: typically 7–12 years. Crawler cranes: 7–12 years. Maximum term depends on the age of the crane at the end of the term — most lenders cap the crane's age at end of term at 20–30 years.
Do I need CPCS-certified operators for crane finance?
Most HP lenders require confirmation that CPCS-certified operators are available to operate the crane. This does not mean the operators must be employed by your company — they can be available via labour hire. DBF confirms CPCS availability as part of every crane finance enquiry.
Can I finance a used tower crane?
Yes — used tower cranes are regularly financed through specialist lenders. Key requirements: LOLER examination certificate, refurbishment history, engineering inspection, and insurance. The crane's age relative to the maximum end-of-term age determines the available term. A 15-year-old tower crane can typically be financed on a 10–12 year term.
Is hire cheaper than buying a crane on finance?
For short-term use (under 12–18 months), hire is typically cheaper. For longer-term use (2+ years), own-and-operate via HP is typically cheaper than hire — and the company builds equity in a long-lived asset. DBF models the hire vs own comparison based on the company's planned utilisation period.
What are the best crane finance rates available in the UK in 2026?
The best crane finance rates start from around 4% for high-value new mobile cranes financed through Siemens Financial Services or Lombard (NatWest). Standard rates for new mobile cranes from mainstream lenders start from 4.5%. Used cranes and smaller transactions typically attract rates of 7%–13%.
Which lender offers the best rate for large mobile cranes above £500,000?
For large mobile cranes above £500,000, Siemens Financial Services (from 4%) and Lombard NatWest (from 4%) are consistently the most competitive lenders. Both specialise in high-value construction equipment finance and offer structured products suited to major crane hire businesses.
How is crane finance different from standard plant finance?
Crane finance differs from standard plant finance in several key ways. First, asset values are typically much higher, meaning fewer lenders can accommodate the deal. Second, the type of crane matters - tower cranes are project-based and operating lease is often preferred, while mobile cranes owned by hire companies suit HP. Third, specialist lenders who understand crane residual values are essential for competitive pricing.
Can I finance a used crane and what rate would I expect?
Used cranes can be financed through lenders such as Close Brothers, Shawbrook and Lombard. Rates for used mobile cranes in good condition typically range from 6%–13%, depending on age, lender appetite and the borrower's credit profile. Specialist lenders who understand crane values are important - a lender unfamiliar with crane residuals may apply a higher rate or decline.
Can a new business get finance?
Yes, though many funders want 1–2 years of trading or a larger deposit; directors' personal credit matters more for young businesses.
Is VAT charged on hire purchase?
On HP, VAT is paid upfront with the deposit and can usually be reclaimed; on leases it is added to each rental.
What is a balloon payment?
A larger final payment that lowers the monthly cost; you pay it, refinance it or return the asset, depending on the product.
Do I need to put down a deposit?
Usually 0%–20%, depending on the asset, its age and your trading history.
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Independent whole-of-market advice · FCA No. 814533