Suros Capital increases introducer commission to 3%

Published on

Suros Capital, the short-term lender which uses luxury assets as security, is offering brokers 3% commission on all loans which complete before the end of March.

By comparison, the current baseline commission is 1%.

Ray Palmer (pictured), director at Suros Capital, said: “The enhanced commission deal is an added incentive to introducers to help them spotlight clients who need immediate short term funding for any purpose, but where conventional borrowing is not quick enough.

“If clients are in possession of luxury assets such as jewellery, fine art, watches, luxury and classic cars and fine wine, we can lend against those assets within days rather than months with the minimum of paperwork and without the usual cumbersome and expensive need to engage solicitors and surveyors.

“We want every broker to be more aware of the opportunities for clients whose liquid resources are tied up but have assets which can be used to secure a loan from us.

“We are usually able to release funds within 24 hours of assessing the asset value. With up to 80% of wealthy clients having suitable assets, this is an untapped market for many brokers.”

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Bridging sees growth in investment purchases as processing times improve

Bridging finance is increasingly being used by property investors to secure purchases and act...

Funding 365 raises maximum light refurbishment LTV

Funding 365 has raised the maximum gross loan-to-value (LTV) on its Light Refurbishment product...

Planning approvals drop despite rise in applications

England’s planning system is showing signs of growing strain as new government figures reveal...

Newcastle boosts new build flat support with higher LTV move

Newcastle for Intermediaries has announced a significant policy shift that raises the maximum loan-to-value...

LendInvest cuts residential rates by up to 15bps

LendInvest has announced a fresh round of rate cuts across its residential mortgage range,...

Latest opinions

FCA’s mortgage rule changes: it’s time to raise the advice bar, not drop it

The FCA’s move to relax some of the rules around mortgage switching and term...

Tom Bill: Unintended consequences

Former Prime Minister William Pitt the Younger introduced a brick tax in 1784 to...

U.S. Market: lower rates are needed to help unlock the market

When Donald Trump was reelected and took office at the start of this year,...

Mortgage advice in jeopardy as FCA reopens the door to execution-only

Execution only and FCA’s consultation has been playing on my mind. Having navigated decades...

Other news

Bridging sees growth in investment purchases as processing times improve

Bridging finance is increasingly being used by property investors to secure purchases and act...

Funding 365 raises maximum light refurbishment LTV

Funding 365 has raised the maximum gross loan-to-value (LTV) on its Light Refurbishment product...

Planning approvals drop despite rise in applications

England’s planning system is showing signs of growing strain as new government figures reveal...