Frequently asked questions

Existing customers who have a query on their loan or who wish to apply for additional finance should initially contact their finance broker. If you have lost contact with your broker please phone us on 020 7518 4245 or e-mail assetfinance@heritable.co.uk. When contacting us, please have details of your account number ready.

Answers to some of the more frequently asked questions are shown below.

I want to repay my existing loan – what do I need to do?

- Please phone us at Heritable Bank on 020 7518 4245 for a settlement quotation.

I want to sell the equipment financed by Heritable Asset Finance. Can I do this?

- While you still have outstanding instalments to pay on your hire purchase agreement the equipment remains our property and you may not sell it without our prior agreement. For lease arrangements, you do not acquire the asset, but (with our prior permission) it can be sold or scrapped. However, we understand that your requirements can change. Phone us on 020 7518 4245 so that we can help you.

I’m having difficulty making my payments, can you help me?

- If you are unable to meet payments on your loan, please contact us as soon as possible on 020 7518 4245. We can discuss how best to resolve the issue for all parties involved.

I have paid VAT on the equipment purchased. How can I reclaim this?

- You will receive a VAT invoice for all purchases. For leases, an annual VAT invoice will be sent to you for the rental amount paid. For Hire Purchase, your copy of the document we send to you to confirm the arrangement is sufficient to reclaim your VAT.

I’ve changed my bank account and so the Direct Debit Instruction will need to be updated. What should I do?

- Please contact us and we will send you a new Direct Debit Instruction which you should complete and return to us. We will then contact your bank to take the payment from your new account. Depending on timescales, you may need to send us a cheque to cover any payment due between closure of your old account and our being able to set up the new Direct Debit Instruction for your new bank account.