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Return to Asset Finance HomeChattels Mortgage
Businesses that enjoy strong cashflow are able to benefit from the flexibility of repayments under Chattels Mortgage. This is simply a loan secured by title to the equipment. Interest is debited quarterly on the capital outstanding at any time.
What is it?
A Chattels Mortgage is a loan secured by title to the equipment, with the Bank registering a charge. This is particularly effective where there is a complex range of machinery being funded. Normally this is funded on a variable rate basis with interest charged on the capital outstanding at any time. Chattel Mortgages can be a very flexible method of funding.
Benefits
- Stand alone funding, normally self securing
- Repayments can be flexibly managed
- Interest reduces in line with capital
- Straight forward documentation
Bank of Ireland UK Asset Finance is provided by NIIB Limited, who are also part of the Bank of Ireland Group
To apply, or for more information, send us an email or contact your local business team
Please read our Guide to Banking for Business Customers - 148KB PDF Document.
© Bank of Ireland 2012
