Michael White, former director of lending at Kensington, has set up a bridging lender specialising in lending to professional sportspeople, entertainers and property developers.
London-based Boutique Capital, which is funded by private backers, offers loans of between £75,000 and £5m over three to 18 months.
White, who is managing director of the business, co-founded the firm with former Harlequins RFC and Richmond RFC rugby player Jason Hoad. Hoad is also managing director of Fusion Property, which searches and selects properties for sports professionals.
White was at Kensington between 1995 and 2001 before becoming a founding director of the London Mortgage Company. He left LMC in 2006 after its sale to Lehman Brothers. In July 2008 he set up brokerage Email Mortgages before becoming a mortgage consultant in January 2011.
White says: “Before coming into this market, we asked ourselves what we could offer that established lenders do not. We are something different as we target a certain type of customer.”