Ex-Amicus directors launch short-term lender

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  • 23/05/2019
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Ex-Amicus directors launch short-term lender
Private banking firm Arbuthnot Latham & Co. has launched a specialist lending division, led by two former directors of Amicus.

 

Arbuthnot Specialist Finance will be offering a range of short-term deals, covering purchase, refinance, light and heavy refurbishment as well as construction finance.

With residential the lender says it is targeting individual or corporate borrowers who “require fast and efficient finance” in order to purchase or refinance residential investment properties, houses in multiple occupation (HMOs), or land with planning approval for residential development.

On residential and commercial lending, Arbuthnot will lend up to £3m, with rates starting at 0.65 per cent and 0.75 per cent per month respectively.

On light refurbishment, the lender will provide loans worth between £30,000 and £500,000, with rates from 0.65 per cent per month.

And on heavy refurbishment and construction, loans will be available from £100,000, with rates beginning at 0.75 per cent per month.

 

‘Tailored lending’

Arbuthnot has promised “tailored lending” rather than set products, allowing it to structure deals around a client’s needs.

Dedicated relationship managers and underwriters with property experience are also on board to assist brokers and their clients.

The new venture is headed up by Shoaib Bux and Yasin Patel as joint managing directors. Both were previously divisional directors at Amicus and launched Mayfair Bridging in 2007.

Bux and Patel said: “Our offering is tailored to client needs and brings private banking style relationship management and bespoke service to all real estate finance solutions. We look forward to working with property professionals and entrepreneurs across the UK.”

 

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