A high-net-worth client has secured a £310,000 short-term loan against a collection of Andy Warhol artworks and diamond jewellery to fund home improvements and lifestyle expenditure.

Luxury asset lender Suros Capital completed the loan after being approached by a retired businessman who required funding for extensive works to his property.

The borrower, described as an avid art collector, was referred to Suros Capital by an art advisory firm after being unable to secure the funding he needed through more traditional routes.

The security package included a portfolio of Andy Warhol works, featuring the artist’s famous Campbell’s Soup imagery and Marilyn Monroe pieces, alongside a collection of diamond jewellery.

Following an assessment of the assets, Suros Capital advanced the full £310,000 loan within 72 hours of the initial enquiry.

The lender said the facility will be repaid through the sale of another artwork at a major auction later this year.

Ray Palmer (pictured), director at Suros Capital, said: “Our client came to us on the recommendation of an art advisory firm because he needed an alternative way to finance his home improvements.

“Thanks to his art collection and its rising value, we were able to accommodate his needs.

“Rather than wait for slow decisioning from traditional lenders, Suros Capital was able to lend the funds he needed within 72 hours.”