Passenger lift finance
A lift is the most permanent thing on this list — once installed it is part of the building, and funders assess it on that basis.
Whole-of-market — 60+ lenders searched, including
Can you finance a passenger lift?
Sometimes, but a lift is close to the hardest case in this sector. Once installed, a passenger lift is part of the fabric of the building: it cannot be recovered in any economically sensible way, and if the premises are leased the improvement belongs to the landlord. Funders who look at it are making a covenant decision on the company, supported by a personal guarantee, not an asset decision. A freeholder installing a lift in their own building presents far better than a tenant. Used lifts are not a practical funding category.
Used kit: No — second-hand lifts are not a practical funding category, as installation dominates the cost and recovery is not economically viable.
Get a quoteor call 0333 772 4864
What would a passenger lift cost per month?
Asset finance is quoted on a flat rate, so that is what the buttons show, with the equivalent APR beside it. Your exact rate depends on the asset, the term, the deposit and the lender.
Prime is an established, profitable business with clean credit. Specialist covers newer businesses and credit that needs explaining — the asset itself carries part of the risk, which is why finance is often available where an unsecured loan is not.
Representative example: on Hire Purchase, borrowing £25,000 over 48 months at a 5.15% flat rate (equivalent to 9.9% APR representative), you would repay around £628 a month; total amount repayable approximately £30,150, of which £5,150 is the cost of finance. This calculator is for illustration only — it is not a quote or an offer of finance, and the rate and repayments you are offered will depend on the asset, term, deposit and your circumstances. CW Asset Finance is a credit broker, not a lender, and may receive a commission from the lender that funds your agreement. All finance is subject to status, affordability and lender approval.
Rates shown are indicative flat rates with the equivalent APR alongside — the two are not the same number. Indicative only and does not constitute a quote or an offer of finance. Subject to status and lender approval.
How lenders treat it
A lift is the purest example of the fixture problem. Removing one means dismantling a shaft, making good the structure and disposing of components that have almost no resale value, so no funder writes this against the asset. It is a covenant decision: filed accounts, balance sheet strength, banking and a guarantee. Tenure changes the picture more than anything else here. A freeholder is improving an asset they own and often has property on the balance sheet, which reads well. A tenant is spending significant money improving someone else’s building, which needs landlord consent, may carry reinstatement obligations and leaves the funder with nothing. Where a lift is genuinely needed, the better route is often a facility assessed against the business as a whole rather than an equipment agreement dressed up as one.
Makes and models we fund
Examples of the machines we are asked to fund. This is not an exhaustive list — if what you are buying is not here, it does not mean we cannot fund it. Your supplier quote is what the agreement is written against.
| Machine | What it is |
|---|---|
| Stannah Maxilift passenger lift | Traction passenger lift installation |
| Stannah Midilift SL platform lift | Low rise platform lift |
| Stannah Piccolo homelift | Compact through-floor home lift |
| Otis Gen2 passenger lift | Machine room less traction lift |
| KONE MonoSpace 500 | Space saving passenger lift |
| Schindler 3300 passenger lift | Mid rise building passenger lift |
| Gartec Aritco 7000 platform lift | Screw driven platform lift |
| Gartec Compact homelift | Small footprint domestic lift |
| Otis SkyRise goods and passenger lift | High rise lift installation |
| Lift modernisation and controller upgrade | Replacement drive, controller and car |
Get a quoteor call 0333 772 4864
Who buys one
Usually a business improving access to upper floors — a clinic, hotel, care home or office with treatment or meeting space above ground level. Retailers opening an upper sales floor and building owners improving accessibility for tenants also apply. The trigger is frequently an accessibility review or a planning requirement attached to a change of use. Landlords improving multi-let buildings to keep upper floors lettable are a regular case.
Get a quoteor call 0333 772 4864
How it is treated for tax
Bought on hire purchase, business plant and machinery normally qualifies for capital allowances on the full cost even though you pay for it monthly, which is a large part of why hire purchase is the common structure. On a finance lease you generally set the rentals against profit instead. The rules change between budgets and your position depends on how you trade, so treat this as the direction of travel and get your accountant to confirm the detail before you commit.
Passenger lift finance questions
Why is a lift harder to fund than a machine?
Because there is nothing to recover. A funder can repossess a sweeper or a washer-extractor and sell it. A lift is welded, bolted and built into a shaft, and taking it out costs more than the parts are worth. The funder is therefore relying entirely on your business to repay.
Does it matter whether I own the building?
It matters more than almost anything else. A freeholder is improving their own asset and typically has property behind them, which gives a funder comfort. A tenant is improving the landlord’s building, needs consent to do it and may have to reinstate at the end of the lease.
Is a platform lift easier to fund than a full passenger lift?
Marginally, because it costs less and some low-rise platform lifts are less deeply built into the structure. The principle is unchanged — it is still an installation that becomes part of the premises. The smaller total simply makes it a more manageable request for a wider range of funders.
Can lift modernisation be financed?
The same logic applies. Replacing controllers, doors and drives in an existing shaft is installation work with no recovery value, so it is assessed on the business. Landlords and building owners with property assets and rental income generally find this easier to arrange than a tenant would.
What about servicing and LOLER inspections?
Lift servicing and statutory thorough examination are ongoing legal obligations for the responsible person, and they sit entirely outside any finance agreement. Budget for them from the start, and speak to your lift provider and insurer about the inspection regime that applies to your installation.
Get a quoteor call 0333 772 4864
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See everything we fund in business asset finance →
Not an offer of finance. All finance is subject to status, affordability and lender approval.
Get your quote
Tell us what you’re looking to fund and Conor will come back to you personally — usually the same day.
Prefer to talk? Call 0333 772 4864 · serving Leeds, York, Harrogate, Wakefield, Selby, Tadcaster & across North & West Yorkshire.
If the bank has already said no
A decline from one lender reflects that lender’s appetite, not the whole market’s.