Ray Palmer

Suros Capital reports strong business enquiry levels since launch

Luxury asset lender Suros Capital has seen new business enquiries surpass its expectations.

Following the launch of its proposition in November, the lender has had over 200 intermediaries sign introducer agreements, and the pipeline of enquiries is already in excess of £10m.

Suros Capital completed its first official loan of £100,000 on 3rd December.

The facility, agreed at a 68% LTV and 3% interest rate on a six-month term, was secured against a client’s diamond ring to fund a property deal, which had been repriced.

Ray Palmer, director at Suros Capital (pictured above), said: “We have had a great response from the adviser sector in the short period of time since we launched. 

“From the feedback received so far, brokers can see that luxury asset finance gives them a unique short-term capital raising tool that is fast, completely reliable and not subject to the paperwork that surrounds lending secured against bricks and mortar. 

“Just to demonstrate the variety of assets we are currently being offered, there is artwork from Banksy, an Old Master painting, a Bentley Continental Type-R, a rare, limited edition 80's Porsche, and a brand new Lamborghini 4x4, to name just a few examples. 

“It is clear from the feedback we have had that there is a dynamic niche for Suros Capital’s luxury asset lending facility in the short-term lending market, and we look forward to solving funding needs for clients who require access to immediate finance for any purpose and have assets against which we can lend.”

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