B&C can confirm that multi-award winning luxury asset-backed lender Borro is now lending in the prime property market.

The lender, which has offices in London, New York and Los Angeles, is now offering bridging finance on prime and super prime residential property to its existing clients, starting at £500,000 up to £5m.

As the lender is already known for its streamlined underwriting approach which places great focus on the asset and minimises the amount of client information required to process a case, B&C speculates the lender will continue this stance in the property sector and in doing so, provide a fast service.

Claire Barrington-Jones, SVP of Group Sales at Borro, confirmed: “We are now lending on property to our existing clients and have been considering this for a long time.”

“It is a logical extension of what we already do,” Claire added.

The lender, which is known for delivering lending decisions with great speed and high flexibility, has raised over £150m worth of capital to date, therefore has the funds to lend in order to make a big splash in the market.

According to a source, Borro will continue to accept other additional luxury assets as collateral, which will make its proposition unique, as well as resulting in more loans getting approval due to its flexibility.  

The lender will also be delivering lending decisions instantly as well as having ultimate focus on the asset and not the customer.

“Expect further announcements in the near future,” Claire concluded.