Weatherbys enhances Lombard lending services

Weatherbys Private Bank has updated its Lombard lending capabilities, as it looks to meet its long-term commitment of combining a client-centred ethos with technological innovation.

While the bank has always offered Lombard facilities, which allow clients to access funds secured against their existing investments, it is now able to do so at a more competitive rate, it stated.

Lombard lending looks to support investors who need liquidity but want to preserve their existing investment strategies.

Through Weatherby’s offering, clients are able to arrange facilities against portfolios managed elsewhere, without having to change investment managers or custodians.

Subject to a portfolio being suitable for Lombard lending, Weatherbys will now charge an interest rate margin of 1.48 per cent above the Bank of England base rate.

Weatherbys head of private clients, Oliver Barnett, said the Lombard lending space was undergoing significant tech-driven disruption, which was presenting opportunities.

“Technology is making Lombard lending faster and more efficient, with real-time portfolio monitoring and dynamic risk management,” he continued.

“This new offering features not only what we consider very competitive terms but significant flexibility, and our incorporation of financial technology has played a substantial role in making that possible.

“We see this as attractive not just for our investment advice clients but also for other advisers in our market, who can support their clients in this way without any disruption to the provision of advice or the underpinning relationship.”

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