Application for Payment Finance UK 2026 (JCT and NEC)

Market Invoice is an independent UK invoice finance comparison site that ranks 87 UK invoice finance providers.

Application for Payment finance is specialist UK invoice finance that advances part of the AfP value at submission, usually a lower share than on a VAT invoice, with the balance paid (minus the provider's fee) when the main contractor pays the certified amount. Pulse Finance, Bibby Financial Services and Ultimate Finance all name construction as a sector; none publishes AfP-specific rates, so terms are quoted per facility. Standard high street invoice finance providers usually decline AfPs because the value isn't crystallised until certification. AfP finance closes the 30 to 60 day gap between submission and payment that crushes tier-2 and tier-3 subcontractor cashflow.

What this page covers

This page covers

Application for Payment finance UK: JCT and NEC contracts, advance rates, fees, certification risk, best providers

Not covered here

General invoice finance education (see /guides/), individual provider reviews (see /providers/), full pricing breakdown (see /guides/costs/)

UK providers worth knowing

ProviderFee fromMin turnoverWhy it fits
Pulse FinanceNot published£1mConstruction named, but no AfP terms published
Bibby Financial ServicesNot publishedNot publishedLarger contractors, includes credit control
Ultimate FinanceNot publishedNot publishedCompetitive on smaller subcontractor facilities
IGF Invoice FinanceNot published£5mBusinesses over £5m turnover (asset-based lending)
AP

Adam Parker

Founder & Managing Director, Muswell Rose, founder and PSC of Best Business Loans Ltd

Adam is the founder and managing director of Muswell Rose and a founder of Best Business Loans Ltd, the company behind Market Invoice. He spent over three years as managing director of Penny, a UK invoice finance business, and his career runs through insurance, mortgages, commercial finance and fintech lending. He writes the Market Invoice library.

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Application for Payment Finance UK FAQ

Can I get invoice finance on Applications for Payment?

Yes, but only from specialist construction finance providers. Ultimate Finance, for example, says it funds within 24 hours of an application for payment being raised, and Bibby and Pulse Finance name construction as a sector. None publishes an AfP advance rate. Many standard invoice finance facilities exclude AfPs because the certified value can be reduced at certification, so check before you sign.

What's the AfP finance advance rate?

Providers do not publish AfP advance rates, but expect less than on a standard VAT invoice, because the certified amount can be reduced at certification under the contract. Specialist providers price the certification risk into the haircut.

How much does AfP finance cost?

Fees are quoted per facility and charged against the final settlement. Illustrative example only, for a £100k AfP at an assumed 2% fee: £60-75k advanced within 24 hours, certified amount paid by main contractor 30-60 days later, you receive the certified balance minus £2k fee. Faster than waiting 30-60 days for certification, and the cost is fixed regardless of how long certification takes.

Which standard form contracts qualify for AfP finance?

JCT 2024 (all variants: Standard Building Contract, Design and Build, Intermediate, Minor Works), NEC4 Engineering and Construction Contract (ECC), NEC4 Subcontract, NEC4 Term Service Contract, ICE Conditions of Contract. Some providers also fund FIDIC contracts on international projects via specialist trade finance.

What happens if the AfP gets certified for less than I claimed?

The provider funds the certified amount only. If you drew 70% on £100k claimed but the certified amount is £80k, the provider keeps £56k (70% of £80k) and you owe the £14k difference back from the certified payment. Most facilities have a buffer reserve to handle this. Repeated significant downward certifications can trigger facility review or higher haircuts.

Best AfP finance provider UK 2026?

Pulse Finance names construction as a sector and describes construction finance among its own solutions, but publishes no advance rates or contract-specific terms. Bibby Financial Services suits larger contractors needing credit control as well as funding. Ultimate Finance is competitive on smaller subcontractor facilities. For most users, get quotes from at least Pulse Finance plus one other for comparison.