Asset lender sees 20% increase in December
Alternative lender, HNW Lending, has seen a 20% increase in loan enquiries in December as wealthy individuals who are cash poor look to secure short-term credit against their valuable assets before Christmas.
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HNW Lending provides loans of between £60,000 and £1 million to clients against their valuable assets such as classic cars, fine wines, jewellery, yachts, private jets, art and property.
HNW Lending said the rise in lending is partially due to many individuals receiving smaller work bonuses than previous years or none at all.
Ben Shaw, founder and director of HNW Lending said:
“We are seeing a growing number of high net worth individuals approaching us for loans and with the expense of Christmas, enquiries have peaked. The main assets people are looking to secure loans against are jewellery, wine collections, property and art.”
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