Suros Capital launches with broker-exclusive range

The lender has been funded by Crestline Investors and will operate across the UK from its London base. 

Suros Capital will offer its lending solutions through intermediaries and will secure loans against borrowers’ jewellery, fine art, watches, luxury and classic cars and fine wine. 

Ray Palmer (pictured), director of Suros Capital, said borrowing against assets provided a quick alternative to raising capital as short-term lending was becoming more complex and time-consuming. 

Palmer said: “We see a growing demand to raise capital quickly with the minimum of fuss that allows people to make use of their luxury assets as collateral for a loan.  

“Once Suros’ appraisers have valued the assets, an agreement is generated and once signed, funds are released. Most cases complete in less than 72 hours from first contact.” 

He added: “The intermediary, having made their recommendation based on their clients’ needs, refers them to us and we handle the whole process. There is a minimum of paperwork, no need for affordability or credit checks, various loan servicing methods are available, while the asset security is insured and securely held until repayment of the loan.  

“The new lockdown is likely to further restrict conventional borrowing to raise capital, so we believe our proposition will have even more appeal to advisers, whose customers need fast short-term finance with the minimum of fuss.”