Contemporary works from Banksy, Andy Warhol, Pablo Picasso and Tracey Emin, along with the occasional old master painting, have been used as security for loans which usually start at upwards of £100,000.

According to Suros Capital business development director, Charles Hodge, apart from borrowing by private HNW clients for personal reasons, Suros Capital also supports art dealers and gallery owners with their cashflow, by offering both buying and selling side finance services.

He said: “There are many reasons why a fine art owner may want to borrow against the value held in their collections. After all, a lot of their wealth can be locked up in high value fine art, and they may want to utilise this capital for a different business or personal purpose, without disposing of the piece or collection.

“The benefits of working with Suros Capital are already well known to a number of fine art intermediaries, who have been referring clients to us since we started. However, financial advisers and wealth managers who understandably lack knowledge of the fine art market and the benefits fine art lending offers, can mean that fine art lending solutions are often not advised to clients as widely as they could be.”

Ray Palmer, director at Suros Capital, added: “As a result, many HNW clients, including private individuals, dealers and galleries often struggle to access funds, which ultimately impacts their ability to grow their business and overcome liquidity challenges.

“However, boutique lenders such as Suros Capital, tend to provide a faster, more straightforward approach, and less stringent requirements meaning capital can often be released much more quickly.”