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ALTERNATIVE FINANCE COMPANY LENDS £23 MILLION AGAINST PROPERTY

  • Loans of between £50,000 and £2 million provided
  • LTV of up to 80%, and process completed within a week 

HNW Lending, an alternative lender that provides individual loans of between £50,000 and £2million to clients against valuable assets, has announced that in the year to March 2017 it lent £14 million against individual homes or portfolios of property bringing its total loans on property to £23 million.  The loan to value (LTVs) is up to 80%, and the process generally takes no longer than a week to complete.

It expects to provide significantly more property loans in 2017 and beyond because its ability to raise funds has been enhanced by receiving HMRC and FCA approval to offer Innovative Finance ISAs (IFISA), with minimum investments of £5,000.  The company will offer returns of between 7% per annum and 15% per annum.

Since its launch in April 2014, HNW Lending has lent £23 million against property.  Overall, 95% of this has been against UK based properties, and 5% against overseas homes – primarily in France and Spain.

Although the lender provides loans against a variety of assets from jewellery, fine wine, classic cars and even yachts, 95% of its lending this year has been against property.  Many of its clients have found it difficult to secure extra funding from their mortgage providers because of their age, or because mainstream lenders are less keen on larger loans.  They may also have complex incomes or finances that do not fit the traditional criteria used by banks and building societies.

Ben Shaw, founder and director of HNW Lending said: “Lending against property is the biggest part of our business, and as traditional lenders tighten their loans criteria, we expect it to be the fastest growing.” 

The HNW Lending process
The process normally takes no longer than a week to complete. HNW Lending Ltd assesses the value of a potential client’s valuable items and based on this it will then find lenders prepared to provide funds against the item or items.  HNW Lending will then arrange with the client for their items to be moved into safe storage or if it is a property, for a first or second charge to be registered.