Case details:
- UK-expat resident in Hong Kong
- Apartment in Devon
- 55% LTV total lending
- 1 year term
- £800,000 property value
RAW Mortgages can consider all types of residential property across the UK. A recent example was a loan secured against a property in Devon where the security consisted of land, a farmhouse and 3 holiday-let cottages.
The borrower is a self-employed expat in Hong Kong and was looking to raise equity for further property investment. We used our strong relationship with a local valuer to complete a valuation of the property to fit within our lending criteria i.e. residential value.
Showing a pragmatic approach to some legal queries allowed us to complete on this deal despite the complexities which often turn away mainstream lenders.