Restoration finance
Restoration finance releases money in stages against a schedule of works, so the build is funded as it progresses rather than out of working capital.
- FOR
- Businesses and restorers
- USED FOR
- Funding a restoration in stages as the work is signed off
How it works
The lender looks at the car as it is now, the specification of the work and the value once it is finished.
Money is drawn in stages. Each drawdown follows evidence that the previous stage is complete, usually photographs and the restorer's invoices.
The restorer matters as much as the car. An established specialist with a documented process makes a case far easier to place.
We arrange this for businesses, and for certified high net worth individuals above the exemption threshold.
What a lender looks at
- 01A written schedule of works with costs and timings.
- 02Who is doing the work and their track record.
- 03The value of the car now and a supported view of the value once finished.
- 04Photographs at each stage and invoices to match.
Not for: Restoring a car you own privately where the borrowing would be regulated consumer credit.
Questions
Can I borrow against what the car will be worth when finished?
Lenders lend against the car as it stands and assess the finished value separately. Expect the advance to be set against today's value, with the schedule of works supporting the case.
Can the money go straight to the restorer?
Usually, yes. Most lenders pay drawdowns to the specialist against invoices rather than to the borrower.
What if the restoration overruns?
Tell us early. Schedules move on older cars, and a lender would rather revise a timetable than discover a missed stage after the event.
Finance on this page is arranged for limited companies and LLPs, for sole traders and partnerships borrowing over £25,000 wholly or predominantly for business purposes, and for individuals borrowing over £60,260 who have signed a high net worth statement. Send us the details either way: cases outside that are handled through one of our regulated partners, and we tell you who before anyone contacts you.
Start the entry form