Case details:
- UK-expat resident in the United Arab Emirates
- Home in Staffordshire
- 35% LTV total lending
- 10 year term
- £4,000,000 property value
- 105 day completion
RAW Mortgages can consider light refurbishment and development exit loans.
A perfect example was a £1m< loan to a UAE resident couple who needed to refinance from their current lender and release equity to complete the refurbishment of the subject property.
At 35% LTV there was plenty of equity in the subject property so Credit felt comfortable considering the clients- one of which was self-employed and the other a homemaker. The NHBC inspection picked up on a few areas of interest, but sensible mitigation by RAW enabled us to proceed to completion.