We are delighted to announce that we have added bridging finance to our specialist lending proposition, complementing our existing product range with additional short-term finance options for buy-to-let investors.
At RAW, we have long been experts in lending to foreign nationals, overseas property investors and UK expats. In December last year, we added a new range of mortgages for UK residents, and this latest addition to our offering further enhances our ability to support both brokers and borrowers.
What are the bridging products and who are they for?
In a nutshell: we are now offering unregulated, first-charge bridging products secured on UK residential properties.
The bridging range is designed to serve buy-to-let landlords at key points in the property investment lifecycle, including bridge to purchase, chain breaks, and bridge to exit.
Here are some of the key facts about RAW’s bridging loans:
- Minimum loan size: £100,000
- Maximum loan size: £4 million
- Terms of three to 18 months
- A maximum LTV of 60%
- Tiered rates depending on the LTV
One of the most important features of our bridging proposition is that it combines speed – for borrowers in need of faster finance to bridge a particular financial gap – along with certainty of execution. The key to achieving this is the fact that funds are drawn from our own RAW Mortgage Fund, which has over £220 million in assets under management.
Why bridging, and why now?
“This is an exciting development for RAW,” explains our CEO, Ben Nichols. “We are seeing clear demand from brokers for fast and flexible bridging finance to address particular challenges, such as a broken chain or a development exit, so it’s important that we evolve our product range accordingly.”
Ben adds: “The strength of the RAW Mortgage Fund means we’re ideally positioned to offer bridging loans, with speed and certainty the two key qualities we want to provide for brokers. Ultimately, while we’re diversifying our product options and always seeking ways to improve product features, we still want to be known for being reliable and consistent in the service we deliver to brokers and borrowers. I’m confident the launch of our new bridging range will be well received.”