Bridging
Suros Capital ups LTV limits
Short-term luxury asset lender Suros Capital has increased the maximum loan to value (LTV) limit for lending against certain luxury assets.
Borrowers using diamonds, jewellery and watches as security for short-term loans will be able to access loans at an LTV as high as 85 per cent in some cases, 15 per cent higher than the previous limits of between 50 and 70 per cent LTV.
The lender offers bridging loans of between £20,000 and £2m on terms of three to 24 months.,
Ed Blackmore, business development director at Suros Capital said: “When we launched, we took a conservative approach.
“However, our asset pricing and recovery data has shown us that we can safely increase our LTVs on diamonds, jewellery and watches. Hence the decision to increase LTVs by 15 per cent on these specific assets.”
He added: “Our criteria are constantly undergoing review and brokers should continue to bear us in mind with our improved terms and the ability to lend on the same day subject to valuation.”
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