Commercial News

SME lender launches high net-worth division

Rozi Jones -
|
9th November 2018
coins houses money
"When dealing with international sports personalities, there are often issues around their residence and income statuses, not to mention the transient nature of their jobs."

Specialist lending packager and business funder, Intelligent Loans, has launched a new department within its specialist finance division for high net-worth enquiries.

The Cardiff-based business says it created the division after seeing a rise in cases where clients needed an increased level of advance, had a complex income structure or a changeable domicile position.

Within a week of formulating the new division, the team was managing a total of nine live accounts, totaling £58 million, including a £3 million residential mortgage, a £867,000 second charge, a £22 million commercial term deal and a £19 million bridging loan.

Liam Schewitz, head of new business in the department, said: "“This is a natural progression for the business. Increasingly, brokers with high-net-worth clients are entrusting the experience and knowledge within Intelligent Loans to facilitate solutions to their clients’ complex set of circumstances.

“For instance, when dealing with international sports personalities, there are often issues around their residence and income statuses, not to mention the transient nature of their jobs. In one recent example, the husband, an international rugby player, was based in Australia, whilst his wife was based in New Zealand, with the security in London. These sets of circumstances are not typical and therefore it made sense for us to create a division dedicated to providing accurate and tailored financial solutions for all eventualities to this type of client.”

Alongside Liam, the newly-formed team includes Matthew Jones, senior second charge adviser; Sian Nicholson, specialist buy-to-let and bridging manager; and Racheal Harkins, an experienced bridging loans specialist.

Schewitz added: “Matthew has demonstrated time and again a forensic understanding of complex income structures, presenting compelling rationales to lenders, resulting in some record-breaking advances. Sian has a wealth of experience in portfolio buy-to-lets and servicing prolific property investors. Racheal has an enviable heritage in bridging loans, having worked as head of bridging for a prestigious financial planning firm, and having worked within a leading bridging lender. Also, as part of the 1pm plc group of companies, we have strong funding lines and are able to offer bespoke, blended solutions that are not dependent on bricks and mortar valuations.”

 

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