borro is the leading short-term asset lender in the UK, lending against a wide range of assets..
Which assets are eligible for a loan?
borro offer short-term loans of £1,000 to £1,000,000 against assets of value including Jewellery, Luxury Watches, Fine Art, Antiques, Sculptures, Luxury Cars, Yachts, Speedboats and other high value items.
How can borro lend twice as much as other similar lenders?
All of borro’s valuation experts have worked for the leading auction houses including Sotheby’s, Christie’s, and Bonhams. This means borro has the best understanding of the underlying value of each asset.
How does borro’s Short-Term Asset Finance compare with Secured Loans and Bridging Loans?
borro is more flexible, cheaper, faster and more profitable than Secured and Bridging Loans.
borro's bridging finance allows your clients to benefit from an extended loan term at lower interest rates through our borro Introducer exclusive pricing product. With no exit or early redemption fees borro’s bridging finance is quick, easy and hassle free.
All of our clients are introduced to us through accountants, solicitors, lawyers, wealth managers, tax advisers, IFAs and mortgage brokers. We can lend £1,000 to £1,000,000 and our valuation experts are available for home appointments.
Who can I offer the borro service to?
As borro loans involve no credit checks and are non-status, they are suitable for all clients in need of short-term finance who own assets of value. borro loans can be completed within 24 hours*, and appeal to clients who do not wish to submit details of income, or wait for finance.
What needs do borro loans satisfy?
Typical uses of a borro loan include:
Bridging finance
Supporting 'own business' working capital requirements
Achieving a better 'loan to value' for a mortgage
Paying for surveys and other fees relating to property re-financing
Supporting an irregular income
And much more...
What are borro’s LTVs?
The Table below shows indicative LTV’s for each asset class:
Asset Type
LTV
Jewellery & Gold
Up to 70%
Luxury Watches
Up to 70%
Fine Art & Antiques
Up to 50%
Luxury Cars/Yachts
Up to 50%
What details will my client have to supply?
borro loans are non status and a client’s income can remain unspecified. Likewise borro does not perform credit checks on a clients and the only mandatory information is proof of identification and address.
Home Visits - for assets worth £20k or more we can organise for free a home valuation by one of our experts. Appointment - for assets worth £2k or more we can organise for your client to meet a valuation team at one of our appointment offices. Premium Sameday Courier - for assets worth £5k or more we can organise for a free door-to-door sameday courier service from your client’s home to our secure valuation centre. This service includes online real-time satellite tracking and insurance up to £50K. Royal Mail Special Delivery next day - for all assets up to the value of £30k we also offer a fully insured next day delivery service, which includes online tracking. Assets are guaranteed to arrive free of charge at our valuation centre by 9am the next morning.
What is the process once the client’s assets have been couriered?
When items are received borro will:
store the client’s assets in a secure and insured specialist vault and premises
appraise all assets & approve all loans
provide funds for the loans
manage all contact with your clients throughout the process
manage the transfer and receipt of all monies and manage the customer ID verification process
Where are the client’s assets stored?
borro use only the best specialist storage facilities, so you and your client can be secure in the knowledge that the assets are safe. Most assets are stored thirty feet underground under time lock at a prestigious 120 year old storage facility in central London. Fine art, sculpture and antiques are stored at fine art storage specialists Ward Thomas. Luxury cars are stored in air conditioned premises and delivered back with a full valet. borro’s classic and luxury car specialists will even service and run the vehicle whilst in storage.
How are borro regulated?
borro is licensed by the OFT, and have a Consumer Credit License (No. 620035). We are also a part of the Consumer Credit Trade Association. borro are not involved in any financial activities that require FSA regulation.
How time consuming will this be on my part?
Once you have explained the service to the client, all you need to do is refer them by giving us a call, or filling in a quick application via your online account. borro will then:
manage all communication with the client once you have initiated an application
manage on-going customer relationships & accounts
manage logistics of receiving valuables and shipping them back to customers
pay for the upfront costs of shipping valuables
receive by post and/or courier all valuables solicited by you
What tools are there to help me sell?
Various power point presentations are available containing both general and client targeted information. Online marketing material can be found within your online account located at www.borro.com/introducer/login and leaflets are available upon request.
How can I start introducing clients?
You can sign up and log in to your account at: www.borro.com/introducer/login to add new cases, manage your cases and loans, view additional materials and track the commission on your referrals.
How will my commission be paid?
Introducer commissions will be paid in two stages. Firstly, 50% of the commission if and when the loan passes through the 15 days 'right to cancel' window under the Financial Services (Distant Marketing) Regulations 2004. If the loan does not reach 15 days, no commission will be paid. Secondly, 50% of the commission if and when the loan enters the fourth month of the term. If the loan does not reach the fourth month, this part of the commission will not be paid. Commissions will be paid according to the following commercial structure:
