HNW Lending provides £3m of loans since launch

HNW Lending has announced it has lent over £3m since launching in April last year.

The alternative lender also revealed that lending during the first quarter of this year was 54% higher than the fourth quarter of 2014, and 102% higher than the third quarter of last year.

HNW Lending has on average been arranging around five loans a month - compared with two a month last year - with its most expensive loan to date being £750k against a property in Buckinghamshire.

The lender uses funds provided by founder Ben Shaw and offers loans against a range of people’s assets including property.

“Our success has been built on a number of factors.  Firstly, many high net worth individuals are continuing to struggle to persuade banks to lend to them, and secondly many valuable assets have been rising in value, making it easier and more tempting for owners to use them as collateral to secure loans,” said Ben.

“We also have a growing market of high net worth and ultra-high net worth individuals living in the UK.

“There are well over 700,000 high net worth individuals in the UK and by 2017 it is predicted that their number will grow to over one million.”