The firm has reported an increase in new business, with significant growth seen in the last three months in particular.

The lender’s current average loan size is now north of £150,000.

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Based on the assets used as a security, Suros Capital’s loan book comprises:

• 36% of loans secured against art and antiques
• 29% of facilities provided against jewellery and watches
• 25% of loans secured against fine wine
• 10% of facilities provided using classic and supercars as security

According to Ray Palmer, director at Suros Capital, the greater interest in luxury asset lending is a result of the current market volatility, which is challenging conventional short-term bridging finance providers.

“Pricing is becoming more difficult, and with living costs rising, affordability and property valuations are becoming a greater issue for conventional bricks-and-mortar property-based lenders,” he added.

“Our increasing popularity is based on a very simple proposition with a minimum of paperwork — our focus is totally on the value of the asset being offered as security, so completion is only limited by the time it takes to make a valuation, and funding can be completed on the same day.

“I am delighted to report that our business levels are growing, as lending against luxury assets offers an increasingly pragmatic solution as an alternative source of short-term funding for all private and business purposes."