In an article in the Financial Times from last year (see link below), Lucy Warwick-Ching opens up the exclusive world of luxury-based lending, a finance system already used and enjoyed by the ultra-wealthy to close property deals, make quick investments or pay tax. Experts note that "It tends to be clients with irregular cash flow who have access to bank debt and this luxury asset lending is the top-up, flexible portion of their debt."
Lucy further describes that "Wealthy individuals like luxury asset lenders because they promise discretion, expert valuations and a tailored service, and claim to be able to offer high-end loans within hours. They also tend not to run credit checks and so leave no credit footprint."
High-end mortgage brokers tell us that they are continuing to see a demand for luxury-asset based loans from their high net worth clients, who simply have cash tied up in other ventures but require a short to mid-term infusion. Borrow Bridge Funds fills this growing niche and offers an invaluable service to our clients.