RAW Capital Partners has successfully provided a buy-to-let (BTL) mortgage to a Chinese couple purchasing an apartment in the heart of Manchester, helping them make 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 looking to invest in UK BTL property, as well as mortgages for Channel Islanders.
The loan in question involved Chinese nationals with a single current income source and no prior experience in property investment. The broker had faced difficulties to secure finance for the client as many mainstream lenders will turn away applications from first-time landlords or foreign nationals, and therefore the combination of both was a challenge.
However, RAW Capital Partners considers each enquiry on a case-by-case basis, and in this instance, following extra KYC checks, the lender was comfortable with the financial circumstances of the couple.
Once the extensive due diligence was complete, RAW Capital Partners promptly issued the client with a BTL mortgage of £300,000 at an LTV 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.
“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.”
