Transferring a Personal Lease

What is a Transfer of Lease?

If you’ve had a change in circumstances then you might not want or be able to afford your lease anymore. If this is the case then you could look at an early termination or transferring the lease to another individual.

If your lease is through a business, then you will need to look at our Guide to Novation which is the transfer of a lease from one business to another.

Please note that a business lease usually cannot be transferred to an individual or vice versa as they are two different types of contract.

Can I Transfer My Lease?

We have spoken to our house funders and most of them have advised that they are unable to offer a transfer of lease on personal contracts between individuals. The finance companies who have advised that they cannot accommodate a personal transfer include Alphabet, Lex, Mobilize Financial Services, Santander and Wessex Fleet.

ALD have advised us that they cannot transfer to another individual but may be able to accommodate a transfer to a non-regulated customer such as a Limited Company, LLP or PLC.

Arval has advised that they cannot transfer a personal lease to another individual but may be able to transfer it to a limited company. Each case will be looked at on an individual basis and you will need to contact them directly to discuss your case.

LeasePlan have advised that they may be able to accommodate a transfer of a personal lease but that they look at each of these requests on a case by case basis. Please give us a call on 0330 221 0000 (option 3) if you lease is funded through LeasePlan and you are interested in a transfer.

Leasys have advised that it may be possible to transfer a personal lease from one individual to another but that the person taking on the lease will need to complete an application form and go through a credit check. In order to get the form you will need to email them on contractsmanagement.uk@leasys.com and this will be sent to you. Please note Leasys advise there is a charge of £100 + VAT for any transfer of contract and each case is looked at on an individual basis.

Novuna have advised us that although they cannot allow a transfer from one individual to another they may be able to consider a transfer from an individual to a limited business. This would be looked at on a case by case basis and you would need to contact them directly on 03444632900 if you want to discuss this.

If your lease is funded through manufacturer finance then you will need to speak to them directly to confirm if they transfer a lease from one individual to another. We’ve included a full list of contact details below if you want to ask your funder any questions about the transfer of a lease.

Should you have any questions about a transfer of lease or if you need to end your contract early then you can of course contact us or you can find your funder's contact details listed below.