Loans for Architects

Many architect practises look to finance their professional indemnity fees via a loan. Repayment terms are between three months and one year. To proceed, all we will need is the quote for the professional indemnity insurance and the term you would like the loan over. We will then send you a finance quote. It only takes a couple of days for us to get a credit acceptance in place, so your professional indemnity insurance bill could be paid by us within the week.

We also provide asset finance and leasing for a range of assets used by architects, including: software, hardware and furniture.

Benefits of Leasing

  • Lease rentals are fully allowable against tax

  • Leasing makes budgeting easier as you have a fixed monthly repayment

  • You can pay for the equipment as you use it

  • We are another form of finance, no need to go to your bank where they may require guarantees

  • Keep your details confidential with “private” funding platforms

  • VAT is payable at 20% of each rental, no need to fund the VAT on the purchase price upfront

The Architect Leasing Process

WestWon - The leasing process - customer NEW

Types of Loans for Architects

Professional indemnity loans for architects

Many architect’s practises look to finance their professional indemnity fees via a loan. Repayments terms are between three months and one year. To proceed, all we will need is the quote for the professional indemnity insurance and the term you would like the loan over. We will then send you a finance quote. It only takes a couple of days from application to your professional indemnity insurance bill being paid.

VAT and Corporation Tax loans for architects

WestWon can finance your VAT bill and or Corporation tax liability, again over three months or even up to a year if needed. We will need sight of the VAT / Corporation tax liability bill and in most occasions will pay HMRC directly.

Finance for Architects

Business loans and leasing for firms of architects in the UK is big business and companies like ours really like working in this sector. The default rate is historically low and lots of architect’s finance office renovations, computer equipment, software and vehicles. Along with take out loans to finance professional fees, VAT and Corporation Tax. Hence, this “high penetration rate” of finance draws leasing companies to architects, which is only good for you as it makes the rates very competitive.

WestWon have already worked with many firms of architects over the years. We have financed everything from a £2,000.00 coffee machine to a major CAD software upgrade running into hundreds of thousands of pounds. Our smallest client is a single partner and our largest is one of the more eminent names in the architectural practises in the UK.

A lot of the leasing business we have done with architects is for financing CAD software and associated services such as training, maintenance and support. Architects are also a big user of high end expensive computer equipment and Apple Mac’s, a market we know well.
Regardless as to what you are looking to finance, please call us for a competitive quote.

Case Study
Business Loan for Award Winning Architect Company

Learn how a company in South Wales grew their business by moving from hire to lease-to-own

Case Study
Architect group finance new software solution

Learn how an architect Group in the North of England implemented a bespoke software finance solution to transform their company.

FAQ’s

What is the smallest and largest VAT loan you will do?

£5,000.00 up to £500,000.00.

What is roughly the interest rate?

8% APR, maybe more if the repayment term is under a year.

What makes you different from other leasing companies?

We like to think a number of things:
1. We have a member of staff who only works with architects
2. We have arranged many leases and loans for architects, hence have experience in this sector
3. WestWon has good business relationships with computer software suppliers working in the CAD market
4. We have a client portal, so you can see quickly and easily see what agreements you have with our company

How cheap are your lease rates for architects?

The leasing and loan sector for architects is already very competitive. Hence, we will give you a very competitive quote from day one. Normally, we do not lose business because we are too expensive.

Can you recommend a supplier of CAD equipment for my architect’s practise?

Yes, we have worked with a range of suppliers selling AutoCad and other architects software.

Can you finance PAYE bills?

Sorry, no we cannot do this.

A bank loan is cheaper, why should we go ahead with WestWon?

The fact is often a bank loan will work out cheaper than a lease or VAT loan through a third-party company. However, often a bank will charge a facility fee or require personal guarantees. One of the other key reasons is that architects often want to use a bank facility for other working capital requirements.

What is the tax position on a lease?

With a lease rental, all the rental repayments are allowable against tax. This will mean a much better tax position compared to the normal written down allowances HMRC allow at 18% pa.

Can you advise on the tax advantages of leasing?

Yes, we can. We do have to caveat, we are not accountants or tax experts and will not have a working knowledge of your present tax position. Hence, we would always recommend that you seek professional advise if needed.

Who insures the equipment on a lease?

You must keep the equipment insured on your practise policy.

What is the smallest and largest VAT loan you will do?

£5,000.00 up to £500,000.00.

What is roughly the interest rate?

8% APR, maybe more if the repayment term is under a year.

What makes you different from other leasing companies?

We like to think a number of things:
1. We have a member of staff who only works with architects
2. We have arranged many leases and loans for architects, hence have experience in this sector
3. WestWon has good business relationships with computer software suppliers working in the CAD market
4. We have a client portal, so you can see quickly and easily see what agreements you have with our company

How cheap are your lease rates for architects?

The leasing and loan sector for architects is already very competitive. Hence, we will give you a very competitive quote from day one. Normally, we do not lose business because we are too expensive.

Can you recommend a supplier of CAD equipment for my architect’s practise?

Yes, we have worked with a range of suppliers selling AutoCad and other architects software.

Can you finance PAYE bills?

Sorry, no we cannot do this.

A bank loan is cheaper, why should we go ahead with WestWon?

The fact is often a bank loan will work out cheaper than a lease or VAT loan through a third-party company. However, often a bank will charge a facility fee or require personal guarantees. One of the other key reasons is that architects often want to use a bank facility for other working capital requirements.

What is the tax position on a lease?

With a lease rental, all the rental repayments are allowable against tax. This will mean a much better tax position compared to the normal written down allowances HMRC allow at 18% pa.

Can you advise on the tax advantages of leasing?

Yes, we can. We do have to caveat, we are not accountants or tax experts and will not have a working knowledge of your present tax position. Hence, we would always recommend that you seek professional advise if needed.

Who insures the equipment on a lease?

You must keep the equipment insured on your practise policy.

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