RAW Capital Partners issued a buy-to-let (BTL) mortgage in four days, to help a client secure funds for an investment property.
The Guernsey-based investment management firm provides specialist mortgages for foreign nationals, UK expats, and Channel Islanders looking to invest in UK buy-to-let properties.
In this case, a broker approached RAW Capital Partners for a BTL mortgage after another lender’s loan fell through.
The client needed financing urgently to complete the purchase of a property in Manchester within four days.
RAW Capital Partners’ origination team quickly reviewed the situation and agreed to take on the case, issuing terms the same afternoon.
Due to the tight timeline, the lender’s credit team accepted a desktop valuation.
The BTL mortgage was delivered within four days, allowing the client to complete their purchase on time.
Ben Nichols, managing director of RAW Capital Partners, said: “Much is made of lenders’ speed in the specialist lending sector, and while it’s certainly not the be all and end all, there’s no denying that cases arise where speed is very much of the essence.
“This is a perfect example – it’s common that loans fall through at the eleventh hour, requiring another lender to step in and ensure a deal does not collapse, which would result in stress, lost fees and missed opportunities.
“An agile approach to reviewing enquiries is essential, and this has to span everything from origination and KYC through to underwriting and delivery.
“At RAW Capital Partners, our speed means we can provide BTL mortgages within days of a broker contacting us, while our agile approach also means that if we approve an application, we will then find a way to overcome any obstacles and follow through on our decision in principle.”
