Suros Capital has announced that it has joined the lender panel of Cardiff-based specialist distributor, Specialist Finance Centre (SFC).

The luxury asset lender’s short-term finance proposition will now be available to all SFC introducers.

Suros provides short-term finance specifically aimed at customers looking to raise money quickly but secured against luxury assets rather than traditional bricks and mortar, including jewellery, fine art, watches, classic cars and fine wine.

Managing director of SFC, Daniel Yeo, commented: “We receive enquiries every week from brokers who use us because of our reputation for finding finance solutions for their customers. Suros gives us another dimension to the service we can offer our introducers. Its proposition, based on lending secured against high value personal assets, offers us a complimentary short term funding resource to our existing lender portfolio.

“While we have uncertainty in the property market and the wider global economy, lenders are being more reluctant to lend without going through more than usual checks and balances. Suros offers fast completion time because they lend against the security being offered, so there is a refreshing lack of paperwork.”

In a recent case, an introducing broker to SFC was able to obtain a £100,000 loan for a client secured against gold bullion and coins to purchase a property at auction at short notice.

“Once the valuation of the gold had been completed, funds were in our client’s bank account that afternoon,” Yeo added. “There was no other lender that could have committed to meet our client’s timescale. We are very much looking forward to working with the Suros Capital team in the future.”

Business development director at Suros Capital, Edward Blackmore, added: “SFC will become one of our key distributors and we are delighted to form a partnership. Thanks to the simplicity, speed and transparency with which we can provide funding, its introducers can access instant short-term borrowing to introducers’ clients who have luxury assets on which we can secure our loans.”

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