Borro enters short-term resi market
Clients can borrow at least £100,000 for up to 24 months, while rates start at 1% a month.
The lender previously lent against luxury assets such as fine art, antiques, jewellery, watches, gold, precious metals and classic cars.
Paul Aitken, founder and chief executive 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.”