Borro funds loan within three hours of security assessment

Specialist lender Borro has completed a £23,800 loan within three hours of the security being appraised to help close an immediate property deal.

Matthew Yassin, partner at mortgage broker Coreco, approached Borro on behalf of a client urgently looking to secure a loan against a collection of jewellery and watches.

Borro had a contract ready and were preparing to transfer funds within an hour of his arrival at their offices in Chancery Lane, London.

“I was amazed how simple it all was to arrange,” Matthew stated.

“I had heard how fast Borro could respond, but this was staggeringly quick.

“It was honestly one of the easiest ways I have ever helped a client borrow.”

Borro estimates that 10-20% of its luxury asset loans are used by clients for property transactions.

Claire Barrington-Jones, director of sales at Borro, added: “Luxury assets are a great top-up for existing facilities.

“For time-sensitive transactions like property purchase, giving clients the option of funds in their account on the same day is an invaluable tool for brokers.”

The deal follows news that Borro has launched an enhanced broker commission of 5%.

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