Firenze Expands Lombard Lending Access Through AJ Bell Partnership

The facility permits borrowing against General Investment Accounts and offshore bonds, provided the portfolios meet minimum thresholds of £150,000 and £500,000 respectively. Loans start at £65,000, capped at half the portfolio value, with interest rates pegged to the Bank of England base rate plus a margin of 1.95 to 3.25 percent. According to Mark Rendle, managing director of AJ Bell Investcentre, the arrangement helps clients manage capital needs while avoiding the tax implications triggered by traditional asset sales.

Founded in Manchester in 2024 by David Newman, Firenze operates under the chairmanship of Paul Pester, the former TSB Bank chief executive. While the firm now claims to work with entities managing a combined £200 billion, it maintains a distinct separation from the platform; AJ Bell will not act as a credit broker or participate in individual lending decisions. The partnership follows a similar expansion effort by Firenze earlier in 2025 as the firm continues to challenge the traditional private banking monopoly on asset-backed credit.