Borro Loan 2 Ltd is a lender which is leading the way in luxury secured lending. Helping clients to unlock the potential which is caught up in their luxury assets like fine wines, watches, fine art and classic cars, Borro offers luxury asset bridging loans for short term periods of 6 months to help borrowers to secure the money that they need.
Bridging loans for periods of up to 6 months in sums of between £3,000 and £5,000,000. Borro will accept a number of luxury items as collateral for the loan including:
- Fine art
- Classic cars
- Luxury cars
- Luxury watches
- Precious metals
- Luxury handbags
- Fine wine
Borro may also offer loans on other assets such as musical instruments and other memorabilia items, however there are several items which will not be accepted, and which are outlined in full on the lender's website.
Each bridging loan contract lasts for 6 months however it can be repaid fully without any early payment penalty at any time, or alternatively, the borrower can apply for an extension following the initial term of the loan. Assets are valued by an in house certified valuation team to reach an accurate market value for the assets.
The luxury assets are stored with Borro's storage partners in secure conditions, so they will be well cared for during the loan term. This long term financial product is one of two products offered by Borro, and if the bridging loan gap is too short, a Luxury Asset Term Loan is another option offered by this lender which offers contracts up to 2 years in length, although the loan amount must be over £100,000. This form of loan is non-renewable.