If you are waiting for the appropriate auction or buyer then naturally this can involve a lengthy wait until you are able to release the liquid funds tied up in your vauable asset.
A consignment loan enables you to access up to 70% of the estimated sale price in advance of the sale, allowing you to get your hands on your funds quickly to put to use maximising other personal or business opportunities, while waiting for the sale to take place.
So to reiterate the details, a consignment loan is a loan secured against personal valuable assets in advance of their managed sale at auction or through private treaty. It means an individual can borrow up to 70% of the asset value whilst the lender manages the sale of the assets on their behalf.
Once the asset has been sold the customer will receive the balance, after the lender has recouped the cost of the loan, any outstanding interest plus any sale transaction fees.
Consignment loans can be arranged against a range of high-value assets such as fine art, antiques, prestige & classic cars, diamond jewellery, luxury watches, fine wine and many more subject to underwriter approval.
So long as the asset has a minimum value of £50,000 it is possible to borrow up to £1,000,000 at a maximum loan to value of 70% of the estimated sale price.
The difference therefore between this process and a standard personal asset loan is that a consignment loan is in effect a managed sale with money provided in advance of
the transaction taking place whereas a personal asset loan allows you to borrow money against your assets without
selling them. At the end of the loan period your assets are returned to you
once the loan and interest due is settled.
Click HERE for more details on arranging a consignment loan
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