Art loans

If Scotland votes for independence on September 18, how might this affect the ownership of art North and South of the Border?

Pawnbrokers borro have secured another £67m lending facility to help expand their activities in the field of asset-backed lending.

Borro have introduced a concierge service to help make their asset-backed loans programme much easier and quicker to use for clients across the UK.

Borro have announced a total £36m injection of investment for the new asset-backed loan scheme based on art, antiques and luxury goods that they unveiled in September.

Borro, the world’s first online asset lender, are to advance loans against high-value items being consigned for sale by auction or private treaty. The company have devised a scheme whereby they will loan up to 70% of the estimated sale price of assets valued between £50,000 and £1m, such as fine art, jewellery and wine, recouping their costs and fees once the sale has been completed.

Arts Council England have launched Own Art, a new national interest-free loan scheme to encourage people to buy art.

WITHERS and Devonshires Solicitors, law firms who specialise in art market issues, are sponsoring two seminars: one on art loans and the risks involved, the other on art and the police.