When looking at any new project, the key elements to consider are the design, installation, the maintenance program and not forgetting the cost.

Out-right purchase of the project may not always be an option, which is why KSL work closely with our partners at Mitsubishi Electric to offer the option to fund the complete installation (equipment and labour cost) under a MELfinance hire purchase agreement.

What is MELfinance?

MELfinance is simple way to fund the costs of new equipment and installation via “hire purchase finance”. So (subject to financial status) a customer can pay for an installation over an agreed period of between 1 and 5 years.

Who is MELfinance available to?

Finance is available to commercial end-user customers who are limited companies.

Partnerships and sole traders are unable to take this option as they are categorised as “individuals” by the Financial Conduct Authority (FCA) and are therefore “regulated”.

How does it work?

When proposing a new installation, we will prepare our standard quote for out-right purchase as normal. If interested in MELfinance as a payment method, we do not require any additional information from you initially – we will simply use Mitsubishi Electric’s online tool to produce a “Finance Indication” for you to consider.

We will then send you a proposal containing details of both the cost to purchase out-right together with the finance indication. This will show the total cash price, the deposit required (10%), the term of the agreement and number of monthly payments to be made, the amount of each payment and the interest charged.

You then have options to decide on the best route for you.

Are there any conditions attached?

The only conditions are that

You insure the equipment in the normal way
You sign up to a service and maintenance agreement with KSL for the full term of the finance

If MELfinance is chosen, how do we proceed?

Simply contact your KSL contact who prepared your quote, who will arrange for the Mitsubishi Electric finance team to complete their credit checks. The finance provider will need to speak to you directly at this stage.

Assuming finance is agreed, work will then go ahead as normal, and your repayments will only start after sign-off that the installation is complete and satisfactory.

To summarise the benefits:-