BSP Finance provide two lending products to support our customers:
- Finance Lease
- Commercial/Chattel Loan.
Finance Lease - the
asset is financed by BSP Finance and owned by BSP Finance until the
last payment or residual payment is made. Payments are made in advance
and the interest rate is fixed for the term of the lease.
Commercial/Chattel Loan - the asset is owned by the borrower but BSP Finance
take a charge over the asset for the term of the loan. The charge is
released once all the repayments have been made and there is no further
debt to BSP Finance. Loans are at a fixed rate for the
term of the loan without hidden ongoing monthly fees.
In both cases early repayment penalties may apply on
fixed rate financing.