Asset-based lender, HNW Lending has launched an equity release product for clients who want to release funds from their property for business purpose or investment.
The lender, which uses funds provided by its founder Ben Shaw and a number of high net worth backers, aims to provide an alternative solution for individuals who don’t fit the requirements of standard equity release lenders or borrowers who want to access funds within two weeks.
Ben Shaw, chief executive of HNW Lending, said: “Equity release can take a long time to progress as the regulations around it are quite strict and the banks that do it are not generally very fast.
“At HNW Lending, our product is based on the value of the property rather than income or age of the borrower. This means our loans often work when an equity release provider has turned down an application.
“Asset-based lenders, like HNW Lending, are generally smaller organisations, and this means that we can build strong working relationships with brokers and their clients to provide a highly personalised and flexible solution for complex requirements.
“This makes it a perfect fit for equity release, which can often be an involved transaction, but our approach means that we can usually iron out wrinkles quickly and we typically advance funds within two weeks.”
HNW Lending provides loans against a range of assets from classic cars, fine wines, jewellery, art and yachts, as well as property and pension schemes.