"The Suros product will be a great option when there is a shortfall on a bridging loan due to a lower than expected valuation."
Luxury asset lender, Suros Capital, has joined the lender panel of specialist distributor, Loans Warehouse.
Suros, which launched in November, provides short-term finance specifically aimed at customers looking to raise money quickly, but secured against luxury assets including jewellery, fine art, watches, luxury and classic cars and fine wine, rather than traditional bricks and mortar.
Loans Warehouse director, Matt Tristram, commented: “As a specialist distributor, we receive hundreds of enquiries every week from brokers who use us because of our reputation for finding finance solutions for their customers. Suros Capital gives us another dimension to the service we can offer our introducers. Their proposition, based on lending secured against high value personal assets, offers us a complementary short term funding resource to our existing lender portfolio. Uncertainty in the housing market, with erratic valuations in some areas, means that the Suros product will be a great option when there is a shortfall on a bridging loan due to a lower than expected valuation. We are very much looking forward to working with Ray Palmer and his team.”
Ray Palmer, director at Suros Capital, added: “Key distributors like Loan Warehouse are vitally important to us in spreading the message about the Suros proposition and we are delighted they have agreed to partner with us. Thanks to the simplicity, speed and transparency with which we can provide funding, their introducers can access instant short term borrowing to intermediary clients who have luxury assets on which we can secure our loans. Loans Warehouse has a deserved reputation for its specialist lending proposition and we are excited to join their lender panel so we can demonstrate to their introducers just how powerful the Suros service can be for clients needing access to funds for any purpose with the minimum of hassle and paperwork.”