Luxury Asset
Bridging Loans

Enables the use of your luxury assets to secure short term funding. No credit checks are needed and assets are returned upon loan repayment.

  •   QUICK AND ACCURATE LOAN OFFER ESTIMATES

    We have an in-house valuations team along with an international network of 300 qualified appraisers, auction house specialists and experienced dealers so that we can provide you with accurate estimates in a timely manner.

      RECEIVE FUNDING FAST

    Loan proceeds can be deposited to your account within minutes of you accepting your loan offer. No time is wasted getting you the funds you need.

      NO CREDIT OR INCOME CHECKS

    Borro does not perform credit or income checks on you and we do not report any information to credit agencies. Your loan is simply secured against your luxury asset.

      SAFE AND SECURE

    Your luxury assets are always secure and protected with Borro. We insure all shipments for their full value, and store your luxury assets in highly secure climate controlled vaults.

    Representative Bridging Loan Example
    Loan amount: £100,000
    Rate of Interest: 41.88% per annum (fixed)
    Rate of Interest: 3.49% per month (fixed)
    Administration fee: £3,000 (3%)
    Total amount of credit: £97,000
    Representative APR: 55.8%
    Duration of the agreement: 6 months
    Total amount payable: £120,940
    Repayment of credit: one repayment of £120,940 in month 6

    Loan Term: 6 - 24 months

    A Bridging Loan is not a long-term financial solution. In the event that you are unable to repay your loan to Borro, the asset(s) that you used to secure your loan may be sold, in order to recover the outstanding loan balance, according to the terms and conditions of your signed loan agreement.

  • FIXED RATES

    A Bridging Loan consists of a monthly fixed rate of interest, which means your monthly interest payment will never increase. The interest rate varies depending on the luxury asset and the value of the loan. Interest is charged on a monthly basis.

    Representative Bridging Loan Example
    Loan amount: £100,000
    Rate of Interest: 41.88% per annum (fixed)
    Rate of Interest: 3.49% per month (fixed)
    Administration fee: £3,000 (3%)
    Total amount of credit: £97,000
    Representative APR: 55.8%
    Duration of the agreement: 6 months
    Total amount payable: £120,940
    Repayment of credit: one repayment of £120,940 in month 6

    A Bridging Loan is not a long-term financial solution. In the event that you are unable to repay your loan to Borro, the asset(s) that you used to secure your loan may be sold, in order to recover the outstanding loan balance, according to the terms and conditions of your signed loan agreement.

    A FLEXIBLE AND CONVENIENT LOAN TERM

    Our bridging loans are for a minimum and maximum of 6 month term but can be paid back in full at any time, and renewed or extended in some circumstances. There are never any early repayment fees.

    LUXURY ASSET APPRAISAL AND LOGISTICS FEE

    A set-up fee for asset appraisal and logistics is applied only when you accept your loan offer. If you change your mind about the loan, no problem, your luxury assets will be securely shipped back to you free of charge.

    PREPAY AND SAVE EVEN MORE

    You can prepay your loan at any time to avoid future interest payments. There is never a prepayment penalty or fee.

    LOYALTY DISCOUNTS FOR REPEAT CLIENTS

    Three months after taking your first loan you become eligible for a reduced set-up fee for all future loans with Borro.

  • What kind of assets does Borro accept as collateral for a loan?

    Borro accepts the following types of luxury assets:

    •  

      Fine Art & Antiques

    •  

      Classic & Luxury Cars

    •  

      Jewellery & Diamonds

    •  

      Luxury Watches

    •  

      Gold & Precious Metals

    •  

      Luxury Handbags

    •  

      Fine Wine

    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.

    What kind of assets does Borro not accept?

    Borro does not:

    •  

      Electronics

    •  

      Stocks & Bonds

    •  

      Animals & Livestock

    •  

      Construction Equipment

    •  

      Firearms

    •  

      Assets that you have not fully paid off

    •  

      Assets that are not fully owned by you

    How much can I borrow?

    Borro offers loans from £5,000 to £5,000,000.

    Is there a maximum or minimum loan term?

    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.

    Who will value my assets and determine how much I can borrow?

    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.

    What exactly do you mean when you say that your loans are based on "market value"?

    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.

    Can I extend my loan?

    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.

    Can I change my mind?

    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.

    When will I receive my funds?

    Once the loan agreement is accepted we can deposit the loan funds immediately via bank transfer.

    How do I repay my loan?

    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.

    How will I get my assets to Borro for valuation?

    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.

    What does an appointment at Borro's offices involve?

    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.

    Where will my assets be stored?

    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.

    How does a Luxury Asset Bridging Loan differ from a Luxury Asset Term Loan?

    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.

    When can I redeem my loan?

    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.

    Can someone else come and collect my assets on my behalf?

    Please contact a member of our Customer Accounts Team at 0808 163 9537 to discuss this further.

    How will my assets be returned to me?

    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.

    Is it possible for my assets to be delivered to an alternate address?

    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.

    What can I do in my Borro account?

    Your Borro account lets you track your loan statements, make and manage payments, view assets we have previously valued and apply for new loans.

    How do I log in to or create my Borro account?

    Simply visit the sign in page and you can log in or create a Borro account.

    How do I change my Borro account password?

    Simply visit the forgot password page and you can reset your Borro account password.

    What happens if I cannot repay my loan?

    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.

LUXURY ASSETS WE ACCEPT

  • Luxury watches

    Luxury Watches

  • Jewellery & Diamonds

    Jewellery & Diamonds

  • Fine Art & Antiques

    Fine Art & Antiques

  • Luxury Cars

    Luxury Cars

  • Gold & Precious Metal

    Gold & Precious Metal

  • Fine Wine

    Fine Wine

  • Luxury handbags

    Luxury Handbags

Speak to a specialist

0808 163 9537

Or get started online

  Add Another Asset

 

Application has no impact on your credit score

Borro honoured as a member of the 2014 FinTech50

Since 2008, Borro has provided
£108,604,000 in funding to our clients.

BORRO CLIENT TESTIMONIAL

The main benefit for me is the speed with which a loan can be agreed, as well as the flexibility. I can pay the loan back as quickly as I want and am not tied to a longer-term deal.”
— Francine L.

HOW IT WORKS

See How Borro
Can Work for You

Borro's process is easy and private. It is designed to get you the maximum value in the minimum time.

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