Personal asset lender borro has unveiled several masterpieces against which it has secured a number of loans.
This follows new analysis from the lender which revealed that the loan value of art has increased by 21.7 per cent since this time last year.
borro’s underground vaults in London’s Chancery Lane are home to some exquisite pieces of art, including a Henry Moore sculpture with a loan of £50,000 secured against it and Andy Warhol prints with a loan of £24,000 secured against them.
Other artists whose work borro has secured loans against include Kyffin Williams, Damien Hirst, Montague Dawson and Jack Vettriano.
The table below details works currently in the lenders possession:
|
Fine art and artist
A portrait by Sir Peter Lely A collection of Andy Warhol screen prints A Henry Moore sculpture A Henry Scott Tuke landscape, oil on canvas A George Romney three quarter length portrait, oil on canvas A collection of Montague Dawson oil on canvas paintings |
Loan value
£20,000 £24,000 £50,000 £34,000 £50,000 £32,000 |
Paul Aitken, CEO of borro, said: “We have seen an increasing number of high net worth individuals and small business owners lending against fine art amongst other assets for liquidity. People do not want to lose their assets by selling and also recognise that they can access quick finance by coming to us. We have seen a 21.7 per cent increase in the average loan value of fine art in the last year alone.”
He added: “Many people are realising they have collected an array of valuable personal assets they can use to raise funds without lengthy bank processes or putting property up as a guarantee. The vast majority of our customers redeem their assets demonstrating the risk free and efficient service we provide.”
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