Personal asset lender borro has launched a new service to buy clients’ valuables, such as luxury watches, jewellery, diamonds and gold as a complementary alternative to its short-term loan facility.
After a trial in August, which resulted in over £100,000 of new business, borro has unveiled the new service.
Customers can either visit borro at their London offices or organise for collection making use of borro’s new Concierge service, where a fully insured borro staff member will come to a client’s home or business. Valuation and offer of funds can be made within 24 hours.
Chris Willis, senior vice president at borro, claimed the new service provides advisers and their clients with two highly attractive routes to raise capital quickly and discretely.
He said: “The new service is particularly useful, for example, to those people who were planning to auction personal assets, such as jewellery or art, but did not want to wait or run the risk of not meeting their price expectation.
“To be able to raise money while taking advantage of borro’s expert valuation and distribution channels means that clients can either borrow or sell and still be able to receive the same fast service and access to funds on the same day as valuation.”