Case details:
- 2 non-UK residents in Nigeria
- Apartment in Birmingham (converted office block)
- 65% LTV lending
- 5 year term
- £130,000 property value
- 168 day completion
Here at RAW our minimum loan size of £50,000 provides flexibility for those looking to begin investing in property or looking to expand their existing portfolio at a modest cost.
When we were approached by a couple looking for lending opportunities on a one-bedroom apartment in Birmingham, we were more than happy to assist. This property is located just outside the city centre and had recently been converted from an office block.
Following an application, our Credit Committee reviewed the clients’ case holistically, and concluded we would be comfortable lending 65% LTV against this property. From here, we were able to verify all the information presented and proceed to completion.