Borro launches into short-term resi market
Borro, the online platform for luxury asset lending, has announced its launch into the short-term residential property loan market.
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The company will offer loans on properties valued over £1m with a minimum loan value of £100k.
The new property loan complements the existing proposition and is tailored to Borro’s high net worth and mass affluent client base.
Paul Aitken, Founder and CEO of Borro, said:
“Many of the loans we write today, secured against other luxury assets such as art and classic cars, are often just one piece of the puzzle for larger property transactions - usually for investment purposes. Adding prime property into the mix of assets we can lend against is a natural extension for our business.
“Unlike the majority of lenders in today’s market, this development means we can cross collateralise an entire portfolio of assets to enable a transaction. If a client is investing in property with a value of £1M+, the chances are they will have other luxury assets they can leverage against if needed and we can ensure that is made possible.”
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