BORRO SEES RISE IN REFERRALS FROM WINE MERCHANTS AND ART DEALERS · ·
School fees and tax bills among top reasons for using borro
Top introducer types revealed: IFAs, mortgage brokers and wealth managers are recommending personal asset lending to clients
borro, the UK’s leading personal asset lender, has seen an 40 per cent rise in sign-ups to its Introducer Programme, which now includes wine merchants and art dealers alongside IFAs, mortgage brokers, accountants, wealth managers and loan brokers. borro has also revealed the main reasons introducers are recommending it’s services to their clients. Top five reasons introducers recommend borro to their clients: 1. To bridge funding gaps (either side of a transaction) 2. To pay a tax bill 3. To pay a legal fee, or school fees 4. To fund projects such as property developments 5. Working capital
Paul Aitken, CEO and founder of borro, comments: “In the current economic climate it is hard for individuals and businesses to access finance. As a result 40 per cent more intermediaries have recognised that in the right circumstances clients can use valuable personal assets to raise funds without lengthy bank processes or utilising property as a guarantee. At borro we have seen a huge rise in art and wine collections coming through our doors so it is great to have wine merchants and art dealers on our books. Introducers are becoming more aware that services like ours can offer their clients a fast and transparent lending channel that is increasingly becoming mainstream.”
Top introducer businesses: Introducer Type IFA Mortgage Broker / Packager Loans Broker / Packager Commercial Finance Broker / Packager Bridging Broker Wealth Manager Art Dealer Wine Merchant Accountant Asset Finance Broker Commercial Packager
% of Total 35% 23% 8% 7% 4% 4% 4% 4% 4% 3% 2% 2%
Benefits for intermediaries introducing clients to borro include: ·
Approval in principle in minutes
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Money within 24 hours
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Excellent commissions
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Non-status loans secured against their clients’ personal assets
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No credit or income checks for clients
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No early redemption fees for clients -ends-
Notes to Editors:
For further information on borro and/or the assets, please contact: Lansons PR : 020 7490 8828 /
[email protected] More information can be found at www.borro.com About borro · borro is the UK’s leading personal asset lender. Loans of up to £1,000,000 can be offered against assets including fine art, antiques, prestige cars, luxury watches, diamond jewellery, gold, yachts, fine wine other high value assets. ·
All of borro’s valuation experts have worked for leading auction houses, including Sotheby’s, Christie’s, and Bonhams.
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All assets are stored in secure and insured specialist vaults/premises. Most assets are stored thirty feet underground under time lock at a prestigious 120 year old storage facility in central London. Fine art, and antiques are stored at fine art storage specialists and luxury cars are stored in climate controlled premises.
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borro offers appointments at their valuation centre, home visits, and various premium collection options including same day couriers. All these services are fully insured and provided for by borro.
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All assets are fully insured whilst in storage with borro for the duration of the loan.
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Founded by Paul Aitken in 2008, borro’s investors include Canaan Partners, Ribbit Capital, Augmentum Capital, European Founders Fund, Eden Ventures and Octopus Investments. These companies have invested in Match.com, Lending Club, LinkedIn, We7, Betfair, Egg, Sportingbet, Facebook, and more. borro’s board of directors includes Capital One co-founder, Nigel Morris.
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Borro Limited has a Consumer Credit Licence issued under Number 620035, and is regulated by The Office of Fair Trading. BORRO Limited’s registered address is Seebeck House, One Seebeck Place, Knowlhill, Milton Keynes, Buckinghamshire, MK5 8FR and the company registration number is 6573695.
