Q: Is there a cost to your service?

Buckingham Leasing acts as a credit broker and not a lender. We may receive payment from the finance provider if you enter into an agreement, and the nature and amount of that payment is disclosed on request at any point before you sign. Where a case is unusually complex we will occasionally agree a fee with you in advance. That is the exception, it is never a surprise, and it is always confirmed in writing before we start.

Question 1

What types of agricultural finance products do you offer?

Accepted Answer

We arrange the full range of asset and business finance used by British farms. Machinery and equipment finance covers tractors, harvesting kit, implements and handling equipment on hire purchase, finance lease or operating lease. Livestock finance supports the purchase of dairy herds, breeding stock and the housing and parlour equipment around them.

Beyond machinery we arrange land purchase and agricultural mortgages over longer terms, seasonal cash flow finance profiled to harvest or milk cheque income, farm vehicles from pick-ups and 4x4s to trailers and utility vehicles, and renewable energy finance for solar arrays, biomass, battery storage and grid connection works.

Most farm businesses use more than one of these at a time. Part of our job is deciding which asset sits best under which structure, so the whole picture is affordable rather than each purchase being treated in isolation.

Question 2

I have never used a finance broker before. Is it more hassle?

Accepted Answer

Less, in our experience. You complete one application and one conversation with us. We then approach the funders on your behalf, rather than you filling in separate forms for your bank, the dealer's finance arm and anyone else you might have approached. We handle the paperwork, the funder's questions and the chase-up, and we come back to you with the options set out plainly. You keep the decision; we do the legwork. It also protects your credit file. Rather than several lenders searching you in a short space of time, we place the proposal with the funders most likely to say yes to that particular asset and business.

Question 3

What types of assets can be funded?

Accepted Answer

Broadly, anything identifiable, durable and used for business purposes. In practice that means: tractors; combines and harvesters; balers, mowers and forage equipment; telehandlers and loaders; ATVs, side-by-sides and utility vehicles; grain handling, storage and drying plant; livestock housing, feeding and handling equipment; milking parlours and robotic milking systems; irrigation and water management; groundscare machinery including greens mowers, fairway units, sprayers and top dressers; construction plant such as excavators, dumpers and rollers; commercial vehicles, vans and trailers; solar arrays, battery storage and other renewables; and IT, software and telematics. If an asset is unusual we will say so early. Specialist or bespoke equipment can usually be funded, though the funder panel narrows and the structure may differ.

Question 4

Is there a cost to your service?

Accepted Answer

Buckingham Leasing acts as a credit broker and not a lender and may receive payment from the finance provider if you enter into an agreement. This will be disclosed on request. Finance is available to business users only, subject to status and credit acceptance. Applicants must be 18 or over. United Kingdom only.

You can check our permissions on the FCA Register at www.fca.org.uk/register or by calling 0800 111 6768.

Question 5

Can you beat a quote I have already received?

Accepted Answer

Often, yes. Send us the quote and we will tell you honestly whether we can improve on it. Two things usually create the difference. First, breadth: we hold access to over 40 UK funders, including lenders who do not deal directly with the public and who price certain assets more keenly than a dealer's own scheme. Second, structure: a different deposit, term, balloon or payment profile can change the total cost of finance materially even where the headline rate looks similar. We compare like for like — total payable, fees, end-of-term position — rather than rate alone, because that is where quotes usually differ.

Question 6

How do I know I am getting the best rates?

Accepted Answer

We work on a whole-of-market basis across our funder panel rather than pushing one product or one lender. For each proposal we approach the funders that suit that asset, sector and credit profile, and we show you what came back. You will see the payment, the term, the total payable and the total cost of finance for each option, so the comparison is made on the same basis. If the best answer is the offer already on your table, we will tell you that.

Question 7

Can I get finance for both new and used equipment?

Accepted Answer

Yes. A large share of what we fund is used machinery bought from dealers, at auction or privately. As a rule of thumb, funders look at the asset's age at the end of the agreement rather than at the start. Most will work to a machine being no more than around ten to twelve years old when the term finishes, which shortens the available term on older kit. Condition, hours worked, service history and residual value all feed into the decision, and specialist machinery with a strong second-hand market is treated more generously than kit that is hard to resell.

Question 8

How does seasonal cash flow finance work?

Accepted Answer

Payments are profiled to match when money actually arrives in the business rather than being spread evenly across the year. An arable business might pay the bulk after harvest with light or nil payments through the spring. A groundscare contractor might weight payments to the cutting season. A holiday or event business might do the same across its trading months. The total payable is agreed at the outset, so the profile changes the timing rather than hiding cost. Most funders will accept annual, biannual or stepped profiles on the right asset; we will tell you which of them suits your income pattern.

Question 9

Do you offer flexible repayment options?

Accepted Answer

Payments can be monthly, quarterly, semi-annual, annual or a bespoke profile, over terms typically from one to seven years. Deposits can be kept to a minimum where cash flow matters more than total cost, and larger deposits or a balloon can be used to bring the payment down. Deferral options are available with some funders, for example a three-month payment holiday at the start while the asset beds in. Availability depends on the lender and the strength of the proposal, so we will confirm it as part of the offer rather than promise it up front.

Question 10

How long does approval take?

Accepted Answer

Approvals are typically within one business day once we have the information we need. Straightforward proposals on standard assets are often back the same morning. Larger facilities, land purchase and anything requiring full accounts or a valuation take longer — usually a few days rather than a few weeks. We will tell you at the outset which category your case falls into.

Question 11

What documents will you need from me?

Accepted Answer

For most proposals: details of the business and its directors or partners, the invoice or proforma for the asset, and recent bank statements. Limited companies with filed accounts often need nothing further. Larger facilities may call for the last two years of accounts, current management figures and, for farms, a note of acreage, cropping or herd numbers. Land and property finance requires more, including valuation and title. We ask for what the chosen funder actually needs, not a standing list.

Question 12

Can a new business apply?

Accepted Answer

Yes. New starts and businesses trading for under two years can be funded, though the funder panel is narrower and the terms reflect that. A larger deposit, a shorter term or a director's guarantee is common. Relevant industry experience counts for a great deal. A contractor setting up on their own after fifteen years in the trade reads very differently to a business with no track record, and we present the case accordingly.

Question 13

What is the difference between hire purchase and a finance lease?

Accepted Answer

Under hire purchase you are buying the asset over time. It sits on your balance sheet, capital allowances are generally available to you, and ownership transfers on payment of the final instalment and the option to purchase fee. Under a finance lease the funder owns the asset and you rent it. Rentals are generally treated as a deductible operating expense, and VAT is spread across the rentals rather than paid up front, which can help cash flow. Which is better depends on your tax position and how long you intend to keep the machine. Confirm the accounting and tax treatment with your own accountant before you decide — we will set out the commercial differences, but the tax advice must be theirs.

Question 14

What happens at the end of the term?

Accepted Answer

On hire purchase you pay the final instalment and the option to purchase fee, and the asset is yours outright. On a finance lease you can usually continue on a secondary rental at a nominal sum, or sell the asset as the funder's agent and retain the great majority of the sale proceeds. On an operating lease or contract hire you hand the asset back at the agreed condition and mileage or hours, and either walk away or take a replacement. We set out the end-of-term position in writing before you sign, because it is the part most often glossed over elsewhere.

Question 15

Can you finance a private sale?

Accepted Answer

Yes. Private and farm-to-farm sales are funded routinely, as are auction purchases. The funder will want to see proof of the seller's ownership, a clear description with serial or chassis numbers, and an HPI or asset check. Payment usually goes directly to the seller once documents are signed. It is worth telling us early, as not every funder on the panel handles private sales and auction timelines can be tight.

Question 16

Can I release capital from machinery I already own?

Accepted Answer

In many cases, yes. Refinance raises working capital against equipment you own outright, or settles an existing agreement on better terms. Machinery, plant, commercial vehicles and some fixed installations all qualify. The amount available depends on the asset's current market value, its age and how readily it would resell. It is a common way to fund a diversification project or bridge a gap between a subsidy change and a new income stream.

Question 17

Do you work with dealers and manufacturers?

Accepted Answer

Yes. We support dealers across agriculture, groundscare and construction with point-of-sale finance, promotional rate schemes and help closing deals where the customer's own bank has been slow. For the customer nothing changes — the finance is arranged on the same whole-of-market basis, and the quote is set out on the same terms.

Question 18

Is finance available to sole traders and partnerships?

Accepted Answer

Yes. Sole traders, partnerships, limited companies and LLPs are all funded, and the great majority of farm businesses we deal with are unincorporated. Finance is available to business users only. Certain agreements with sole traders and small partnerships fall under regulated agreements, in which case additional protections apply and we will tell you so at the time.

Question 19

Will a personal guarantee be required?

Accepted Answer

Sometimes. Funders commonly ask directors of limited companies for a personal guarantee, particularly on newer businesses or larger facilities. It is not universal. Established businesses with strong accounts often borrow without one, and on some asset-backed structures the machine itself provides sufficient security. Where a guarantee is required we tell you before you commit, and we would always suggest taking your own advice before signing one.

Question 20

What if my circumstances change during the agreement?

Accepted Answer

Talk to us early. Funders have far more room to help a business that raises a problem in advance than one that misses payments first, and restructures, short deferrals and settlement figures are all routine requests. If you are experiencing financial difficulty or any circumstance that makes dealing with us harder, tell us and we will adjust how we work with you. Our approach is set out in our vulnerable customer policy.

Frequently asked questions

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