United Trust Bank was approached by one of its broker partners, with a proposal for one of their high net worth clients wishing to purchase a classic car to add to his existing collection.
The car was a rare Aston Martin. One of only fifteen ever made, it was fully refurbished and being sold by a specialist London dealer.
The car had been valued by a certified Aston Martin Heritage Specialist however UTB also organised its own independent valuation of the car which subsequently supported the purchase price and the previous valuation.
The broker provided sufficient information about the customer to satisfy our credit criteria and a member of the asset finance team went with the broker to meet the customer, sign the documents and take a look at the car for himself.
The Bank was satisfied that with the customer providing the balance of the purchase price the car was suitable security for a £700,000 loan.
This is one of a number of desirable cars United Trust Bank has funded for high net worth applicants.
Whilst some of our competitors may not have an appetite for these more unusual vehicles our flexible credit policy often means we can fund these types of transactions.
Loan Amount: £700K