Arbuthnot Specialist Finance sees record level of enquiries since launch
Arbuthnot Specialist Finance Limited (ASFL), the short-term property finance subsidiary of Arbuthnot Latham, the private and commercial bank, had its biggest quarter to date, receiving loan enquiries exceeding £300m.
February saw the bulk of the credit applications in terms of the loan value, following increased residential investment and development demand, due to the need for extra space and homes as more people shift to working remotely.
ASFL’s core business is residential finance, where it offers LTVs of up to 75% including interest, little to no fees on loans from £30,000, and an interest rate per month from 0.6%. Other core areas are:
- heavy refurbishment & conversion with an LTV of up to 70%, loans from £100,000, and a monthly interest rate from 0.70%,
- light refurbishment with an LTV of up to 75%, loans from £30,000, and a monthly interest rate from 0.65%,
- and development with an LTV of up to 70% and maximum GDV of up to 70%. Monthly rates are from 0.85%.
Matthew Anderson, head of sales at Arbuthnot Specialist Finance Limited, commented: “Following the restructuring of the leadership at ASFL, it is great to see the progress of our team and their dedication to high-quality service reflected in our Q1 performance. Our bread and butter has been residential, where we are seeing people look for extra space and homes in the country. As the short-term property subsidiary of Arbuthnot Latham, we look to fully service the market, not just in our area of financing expertise, but leverage the bank’s other financing solutions to provide a more holistic approach to lending.”
