Borro appoints John Allbrook as chief exec

Tue 4 Jul 2017

Borro has appointed John Allbrook as executive chairman and chief executive of Borro. Allbrook was formerly executive chairman of Syscap and has also previously held positions at GE Capital and GoIndustry. Following a full strategic review Borro has withdrawn from the UK property bridging loan market in order to focus on its core luxury asset […]

Paul Aitken exits Borro

Fri 16 Jun 2017

Borro founder and CEO Paul Aitken is leaving the business. Since launching in 2008 Borro has established itself in both the UK and US with lending figures topping £260m over the last three years. Non-exec chairman John Allbrook will now be taking over and running the firm. Allbrook was previously with GE Capital and GoIndustry. Aitken […]

Borro: Business growth stalled by slow bank lending

Tue 23 May 2017

Borro has warned that the banking industry must improve speed of access to finance for business owners or risk a slowdown in business investment. Paul Aitken, chief executive of Borro, said: “Bank lending speeds have remained static despite improvements in technology, consumer credit checks and a steadier market. “If the industry is serious about supporting […]

Borro closes its largest luxury loan

Tue 11 Apr 2017

Borro has closed its largest luxury asset loan at £6m. A small collection of blue chip post-War and contemporary art was brought to Borro by a client looking to refinance an existing loan. Paul Aitken, chief executive and founder of Borro, said: “I’m happy with the progress the business made in 2015 and 2016. “Now […]

Masthaven hires Harriet Smith from Borro

Fri 7 Apr 2017

Masthaven has hired Harriet Smith as a business development manager from Borro. She spent six years at Borro, where she focused building the lender’s bridging loan book. The lender has also appointed Charles Creak as a business development executive. Creak spent a year assisting the business development team of OakNorth bank and is an Economics graduate […]

Borro offers 48 hour valuation guarantee for bridging loans

Mon 13 Mar 2017

Borro is offering brokers a 48 hour valuation for bridging loans from first contact by a surveyor or their valuation fee will be refunded on completion. The offer is for all properties valued in London and the South East which have a maximum value of £3m and a max gross loan-to-value of 70%. Claire Barrington-Jones, […]

Borro agrees loan in three hours against jewellery and watches

Thu 23 Feb 2017

Borro has provided a client of Coreco with a loan of £23,800 secured against a collection of jewellery and watches. The transaction was completed within three hours of the security being appraised. Coreco’s London based client was in need of urgent funds to close an immediate property transaction. Matthew Yassin, partner at Coreco, said: “I […]

Borro offers brokers 5% commission

Mon 13 Feb 2017

Borro is offering brokers 5% commission on loans secured against luxury assets until 14 April. Brokers signed up with Borro also qualify for step by step guides on asset-backed cases, an assigned Borro staff member, support for mailshots and website links for referrals Claire Barrington-Jones, director of sales at Borro, said: “Our new deal for […]

Borro pause property lending

Wed 13 Jul 2016

Borro has paused its second charge lending until September following the EU referendum last month. Borro CEO Paul Aitken said the firm was worried about uncertainty amongst other lenders and an increase in the number of re-bridges it is seeing. However despite the pause Aitken said Borro would be happy to add new loans on a […]

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