A loan secured by Chattel Mortgage is a type of lending facility used to finance business equipment.

The asset, or chattel, becomes the security for the lender and is mortgage to the lender to support the loan. After the final payment the mortgage or bill of sale over the item is released.

With a Chattel Mortgage you own the equipment from the start.

The financier simply takes a charge over the goods while under finance. Your accountant will know best, however, in most cases you can claim for interest and depreciation.

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