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Lending Against Assets - Case Study

Vehicles

50% LTV

Mortgage broker, James Burgess had a difficult case. His client, an independent property developer needed £120,000 fast to get funding on land without planning permission. Burgess secured him an offer, but the lender required a Personal Guarantee and under this circumstance the client declined the offer. As the client owned a small fleet of luxury cars Burgess’ applied through Borro, who in turn contacted the client and visited him next day to appraise his vehicle collection. Within 24 hours our client had a £120,000 payment from Borro. Subsequently Burgess and his firm have worked with the Borro team for other clients, allowing them to take out loans against fine art, antiques and light aircraft. The non status nature of the funding is beneficial for the client and the high commission level from Borro is advantageous for the broker!

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