The luxury asset-based lender — which secured loans against alternative assets, such as classic cars, jewellery, fine art, watches and fine wine — believes that this achievement is a result of the intermediary sector’s desire to explore alternative funding sources when clients are unable to secure traditional funding.

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Ray Palmer, director at Suros Capital (pictured above), said: “There was a time when bridging and short-term lending were bywords for fast completions, and there are still cases where the stars align for affordability and credit checks, property valuation and legal process to take place quickly. 

“However, for many clients who need access to funding quickly or have complex financial arrangements that require a greater burden of proof in today’s regulated world, traditional short-term funding sources are not flexible or fast enough,” he claimed.

“Individuals with high-end assets can utilise them as security against a Suros loan without the need for affordability tests, credit checks or excessive paperwork. 

“Once an asset has been valued by us, funding is as fast as the client wishes and, with the asset in our system, further funding can be released on the same day.”

Earlier this week, B&C published a filmed interview with Ray about how it seeks to plug property-backed funding gaps.