Frequently asked questions

• What happens at the end of the finance agreement term?

  What happens at the end of the finance agreement term?

  If the business asset finance agreement is a minimum term – the lease will continue beyond the minimum term until you provide one month’s written notice that you wish to terminate the agreement. Upon expiry of such notice, you must return the equipment in accordance with the terms of the agreement. If you would like to discuss options for continued use of the equipment, please contact us.

  If the business asset finance agreement is for a fixed term – at the end of the term of hire, you must return the equipment in accordance with the terms of the agreement. If you would like to discuss options for continued use of the equipment, please contact us.

  If the agreement is a hire purchase – once all payments have been made, including the option to purchase fee, you will have full ownership of the equipment.

• What should I do if the equipment isn’t working properly?

  What should I do if the equipment isn’t working properly?

  If you have any issues with your business asset or vehicle, please contact the original equipment supplier, maintenance provider or dealer directly, who will be able to assist. 

• What should I do if the original equipment supplier or maintenance provider is no longer trading?

  What should I do if the original equipment supplier or maintenance provider is no longer trading?

  In this situation, the next step would be to find an alternative maintenance provider for the equipment who are able to offer the service you require. 

• Can I cancel my business asset finance agreement?

  Can I cancel my business asset finance agreement?

  This will depend on the terms of your individual business asset finance agreement. Please review the terms of your agreement, if you are still unsure, please get in touch with our team.

• What are the early settlement terms?

  What are the early settlement terms?

  Early settlement payment includes all future rentals from the point of settlement until the expiry of the finance agreement, plus applicable fees. There is, however, an applicable discount for early receipt. Please note that early settlement of the agreement does not automatically transfer ownership of the equipment to you.

• What is the insurance included in my finance agreement?

  What is the insurance included in my finance agreement?

  Asset protection is a mandatory requirement within the terms and conditions of your asset finance agreement with us. If you would like to cancel, make a claim, or would like a copy of the asset insurance details, please contact Acquis insurance on 0800 032 0520.

• Why is my first payment more than I expected?

  Why is my first payment more than I expected?

  Depending on when your first instalment was due and when we received your credit agreement, two of your payments may be taken close together or on the same day. Your next payment should reflect your regular monthly amount, however, please get in touch if you have any further questions. 

• Can I change my monthly payments?

  Can I change my monthly payments?

  We can change your direct debit payment date but the number of days you can change your instalment dates by will depend on your insurance broker. Any changes must be made four or more working days beforehand and there may be a charge for this service. To make any changes, please contact us directly. 

• My business insurance finance payments have increased or decreased recently – why is this?

  My business insurance finance payments have increased or decreased recently – why is this?

  An ongoing change to the amount of your monthly payments may be due to an increase or decrease to your insurance premium. You should have received a new repayment schedule and letter from us explaining this. You can also check with your insurance broker.

• One of my payments was higher than I expected - why?

  One of my payments was higher than I expected - why?

  If you have recently missed a payment, we may have collected this and/ or a default fee at the same time as your next payment.

• I have missed a payment – will I be charged a fee?

  I have missed a payment – will I be charged a fee?

  If you miss a payment you may have to pay a default fee. Please see the terms and conditions on your finance agreement to find out more.

• I have missed a payment – will this affect my insurance?

  I have missed a payment – will this affect my insurance?

  If you miss a payment more than once and do not make a payment to rectify this, your finance agreement with us may be cancelled. This could impact your business insurance policy and you may be charged a cancellation fee.

• How can I pay if I miss a monthly payment?

  How can I pay if I miss a monthly payment?

  If you miss a payment, please contact us directly on 0330 123 9613.

• What fees could I be charged on my business insurance finance agreement?

  What fees could I be charged on my business insurance finance agreement?

  The terms and conditions of your agreement with us outline the fees you may be charged and could include:

  • Facility fee – for setting up your credit agreement.
  • Cancellation fee – if you cancel your credit agreement.
  • Default fee – if you miss a payment.
  • Fee for moving a payment – if you move the date that your instalment comes out of your bank account.

  Your insurance broker may also charge you a fee for setting up your credit agreement.
  

• How can I cancel my insurance or finance agreement?

  How can I cancel my insurance or finance agreement?

  If you want to cancel your finance agreement and/ or your business insurance policy, you should read the information provided in the welcome pack we sent you when you first took out the agreement. This explains your right to withdraw from or cancel your finance agreement. You should then speak to your insurance broker to arrange an alternative method of financing your insurance policy if you would like the policy to continue.

• How can I pay the full balance of my credit agreement early?

  How can I pay the full balance of my credit agreement early?

  If you wish to pay back your finance agreement early, please contact us on 0330 123 9613.

We are committed to providing you with the highest level of customer service, but sometimes things do go wrong. We welcome the opportunity to put things right for you, so please get in touch if there is anything you’d like to discuss.

Once we've dealt with your complaint, we'll go back and see what we can learn from your experience.

• I would like to make a complaint

  How can I make a complaint?

  If you have a complaint about a finance agreement or a service with us, please get in touch by calling 0330 123 9613 or writing to us at Investec Asset Finance, Reading International Business Park, Reading, RG2 6AA. 

  We will acknowledge your complaint and write to you within eight weeks, either confirming our final position or explaining why we are unable to do so.
  

• I would like an update on my complaint

  How do I get an update on my complaint?

  Please be advised that we require 8 weeks to respond to your complaint, however if you would like an update within these 8 weeks then feel free to contact us.

• I am not happy with the response to my complaint

  What if I'm not happy with the response to my complaint?

  If you are dissatisfied with outcome of your complaint, you can may be able to refer your complaint to the Financial Ombudsman Service by writing to Exchange Tower, London, E14 9SR, calling 0800 023 4567 or emailing complaint.info@financial-ombudsman.org. 

  The ombudsman can help with most complaints if you are:

  • A consumer  
  • A micro-enterprise employing fewer than 10 persons that has an annual turnover or balance sheet less than €2m
  • A charity with an annual income of less than £1m
  • A trustee of a trust with a net asset value of less than £1m