Borro accepts the following types of luxury assets:
Borro has also provided loans on other types of assets ranging from memorabilia to musical instruments. Please be sure to also view our FAQ that lists which assets Borro does not accept.
Borro does not:
Assets that you have not fully paid off
Assets that are not fully owned by you
Borro offers loans from £5,000 to £5,000,000.
Luxury Asset Bridging Loans are for a minimum and maximum of 6 months. You can always pay your loan early with no penalty and you will only have to repay the interest due at the time of redemption.
Borro has an in-house team of valuers certified by organisations such as The Royal Institute of Chartered Surveyors, Gemmological Association of Great Britain, and the Gemological Institute of America.
Our valuers maintain an international network of over 300 qualified appraisers, specialists and dealers to ensure Borro reaches the most accurate market value possible.
Market value is the amount of money that you could expect to receive from selling your luxury asset(s) today. This is often different from the "retail value" that may be provided elsewhere.
The "retail value" of a luxury asset is almost always a higher value than the current "market value" as "retail value" factors in the costs incurred in marketing, storing, and selling the asset to you.
Luxury assets tend to depreciate compared with their retail value unless they are very rare.
Yes, at the end of your loan term you may request an extension ("renewal") of your to your loan. If your request is granted you will need to repay any unpaid interest to bring your existing loan up to date and a set-up fee so Borro can provide a new loan agreement.
Up until your loan agreement is accepted you have complete flexibility.
Accepted loan agreements may be cancelled up to 14 days after they are signed. Simply send us an email or call us. Fees incurred will be refunded in full. You only pay pro-rata interest (calculated daily) up until the day Borro receives notification.
Once the loan agreement is accepted we can deposit the loan funds immediately via bank transfer.
Borro accepts bank transfers, cash deposits, cheques and debit card payments. Some payment methods process faster than others so it is important that you understand the processing time required for the payment method that you choose to use.
Borro can arrange for a courier to collect assets such as luxury watches and jewellery as well as smaller works of fine art and antiques. Alternatively you may book an appointment to meet our valuers at our offices.
For larger works of fine art and antiques or luxury and classic cars we will arrange specialised transportation via one of our partners.
For important pieces or assets in specialised storage we can arrange an on location visit by our valuers.
When you visit us you will be greeted by your account manager and one of our valuers. Based on the valuer's assessment of your assets you will receive a loan offer.
Your account manager will then set up your Borro account if you haven't done so already, explain your loan agreement and you can receive your loan funding the very same day via a bank transfer.
You can book an appointment either by calling us at 0808 278 5547 or on our website. Borro recommends booking an appointment in advance of your arrival however you are welcome to visit our offices for a walk-in appointment if you are near one of our offices.
All luxury assets are stored under highly-secure conditions with Borro's storage partners. Each partner offers specialised, state-of-the-art storage options so Borro can ensure assets are well taken care of until they are returned to you.
A Luxury Asset Bridging Loan is not a long-term financial product. A Luxury Asset Bridging loan is written in a 6 month contract and you can request an extension ("renewal") if needed.
A Luxury Asset Term Loan is a long-term financial product. A Luxury Asset Term Loan contract can provide a 12, 18, 24 or 36 month loan agreement, provided the loan amount is greater than £100k. Luxury Asset Term Loans cannot be renewed.
Your loan can be redeemed at any time, either online or with our Customer Accounts team. You may come to our offices to receive your assets or Borro can arrange to have them returned to you.
Please call our Customer Accounts Team on 0808 163 9537 to arrange your redemption.
Please be aware that all redemption appointments must be booked in advance.
Please contact a member of our Customer Accounts Team at 0808 163 9537 to discuss this further.
Your assets are returned to your address in the same way they were brought to Borro for valuation after our Customer Accounts Team have confirmed the return details with you.
Should you need to change your details or if you would like to pick up your assets yourself please contact our Customer Accounts Team at 0808 163 9537.
To offer the highest level of security for your assets Borro does not arrange delivery to any address other than the address listed on your account.
If you have moved or changed your address since you took out your Borro loan you can update your address by providing a copy of an updated utility bill or bank statement of yours along with an email or letter explaining that you wish to update your mailing address. Your address will then be updated in our systems within 24 hours.
If it is not convenient for your assets to be delivered to your residential address we can arrange an appointment for you to come and collect your assets from our offices.
Your Borro account lets you track your loan statements, make and manage payments, view assets we have previously valued and apply for new loans.
Simply visit the sign in page and you can log in or create a Borro account.
Simply visit the forgot password page and you can reset your Borro account password.
If you cannot make payments on time or repay your loan in full please contact our Customer Accounts Team at 0808 163 9537 and we will work with you to find a solution. In the event that you do not repay your loan, the asset(s) that secure your loan may be sold by Borro in order to recover the outstanding loan balance as per the terms and conditions of your loan agreement. Any excess above what Borro is owed will be returned to you after a fee is deducted.
The title of ownership for your luxury asset(s) may be transferred to Borro if you default on your loan agreement.