RAW Capital Partners has issued a buy-to-let (BTL) mortgage to a Chinese couple buying an apartment in Manchester, marking their first investment in the UK property market.
The Guernsey-based investment management firm, through the RAW Mortgage Fund, provides specialist mortgages to foreign nationals and UK expats wishing to invest in UK BTL properties, as well as those for Channel Islanders.
The loan was for a couple with a single income source and no prior investment experience.
The broker faced challenges in securing finance, as many mainstream lenders typically reject applications from first-time landlords or foreign nationals.
After conducting additional KYC checks, the lender found the couple’s financial situation satisfactory.
Following thorough due diligence, RAW Capital Partners issued the couple a BTL mortgage of £300,000 with a loan-to-value (LTV) ratio of 50%.
Ben Nichols, managing director of RAW Capital Partners, said: “The UK’s BTL market has long attracted the interest of investors from around the world.
“But these foreign nationals can find it notoriously difficult to access BTL mortgages, with many lenders unable or unwilling to complete the additional due diligence required to lend to those outside of the UK.
“At RAW Capital Partners, we pride ourselves on catering to this under-served market.
Nichols added: “To date, we have provided loans to clients based in over 50 countries, including a strong track record in Asia and Africa.
“Our ability to work with a global client base comes down to our expertise in the KYC process, and our approach of thoroughly assessing each enquiry on a case-by-case basis.
“We were delighted to help these Chinese clients begin their property investment journey’s and further build on our relationship with the broker who introduced the case to us.”
