Central Bridging has recently launched a new class of asset backed bridging loans.
The lender said the loans are ideal for high and ultra high net worth clients. They are secured exclusively against luxury assets, enabling borrowers to access working capital without having to rely upon traditional bank funding or bricks and mortar security.
Acceptable asset classes include gems and jewellery, bullion, US Treasury Certificates and UK Gilts.
The loans are available from £1m to £25m over periods of three to 24 months. Central Bridging said they are already proving popular with both overseas and UK based clients.
Since the beginning of the month Central have issued terms on over £20m of asset backed bridging loans with security including gems and US Treasury certificates.
John Clifford (pictured), managing director at Central Bridging, said: “We have been delighted by the response to our new asset backed loans. With funders that allow us complete autonomy we can make initial asset suitability checks and then move quickly to arrange a valuation whilst concurrently agreeing a logistical and storage plan with the client.
Expert partners enable us to move quickly to completion and crucially, once redeemed, we will ensure assets are returned to the client equally quickly and efficiently. This is a superb way to unlock the value of assets that might otherwise simply be gathering dust locked away in bank vaults.”