Specific Security Agreement
An equipment finance option where you own the asset{sub-heading}
At a glance
Why choose our Specific Security Agreement?{yellow-border}
A Specific Security Agreement (formerly known as Chattel Mortgage) is an equipment financing option that allows businesses to own their equipment upon purchase. BOQ Equipment Finance Limited secures the loan by registering a charge over the goods.
Benefits and features
The Specific Security Agreement is similar to a home loan, where the equipment being financed is owned by your business, but is mortgaged to BOQ Equipment Finance Limited by a registrable charge over the equipment.
- You will own the asset, instead of hiring, renting or leasing
- Final payment can be a residual value (balloon) payment, enabling lower payments during the term
- Repayment structures can be designed to suit your business needs
- Depreciation on the asset and the interest component of each loan instalment may be tax deductible*
Important information{yellow-border}
Business Banking Guide to Fees and Charges
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BOQ Equipment Finance General Terms
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Ready to apply?{yellow-border}
Whether you’re ready to apply or you’d like to know more, one of our business specialists will be happy to help and provide more information.
Enquire now
- Enquire online now
- Call us on 1300 714 986
Visit a branch
We can also help with:
Revolving Limit
Save time with ongoing equipment finance
When you take out a revolving limit, you will have an approved credit limit for equipment finance over a set term.
- Finance equipment over an agreed timeframe
- No need to reapply whenever you purchase a new asset
- Funds can be redrawn once repayments are made
