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RAW Capital Partners bring mortgage solutions to borrowers with unique circumstances. Managing director Tim Parkes explains more.
Who are RAW Capital Partners?
We are a specialist mortgage lender to non-UK resident individuals, companies and trusts. We typically lend up to 55% of valuation and provide interest-only loans of between £50,000 and £4million for purchases, refinancing or equity release on residential property.
We pride ourselves on our quick turnaround time and on looking more flexibly at individual borrower circumstances than mainstream lenders do. Complex situations are especially welcome. We love this market and make every effort to provide the best possible solution for our borrowers.
More generally, we’re part of an innovative asset management group with its origins and most of its team based in Guernsey, and whose directors have 100 years’ combined experience in financial markets from a variety of disciplines.
What makes you different?
Our emphasis is on being fast and flexible.
By fast, I mean that we pride ourselves on our speed of response. Quite often, a borrower needs a quick decision, and direct access to the specialists and decision-makers in-house means that, on receipt of an application, we can give an in-principle decision the next working day, and issue terms the day after that. We can typically complete a loan for new purchases within two weeks and refinances within three weeks.
There are two aspects to being flexible. First, with borrowers, we have no set maximum age restrictions and no specific employment type, income or asset requirements so we can take a pragmatic approach, looking at the whole picture.
We realised at the start that not everyone could tick all the ‘right’ boxes when seeking a mortgage, so we’re happy to work with entrepreneurs, contractors, retirees, self-employed individuals and those whose income might not be as straightforward as a monthly salary.
And second, the type of property involved. While we typically lend against completed residential property that’s good quality and in a decent state of repair, we will also consider properties in need of refurbishment, modernisation or where small extensions are planned. We review each individual application on its merits, so we take the same flexible approach towards properties as well as individuals.
Suffice to say that our ethos is to approach each case on a more considered basis. That means we occupy a special niche in the lending market, which is great because we can help those borrowers that other lenders don’t wish to support.
Can you give us any examples?
Well, we’re very new in Jersey but our first completion here, in 2022, was to a borrower in his early 70s, who was buying a property before he had sold another, and where we were happy to supply a bridging solution.
We’ve lent elsewhere to a prestige car trader. They bought and sold cars and could prove a good, albeit irregular, income over a sustained period, the irregularity having caused an issue with other lenders.
Another borrower inherited a three-bed, 1970s property which needed completely gutting and refurbishing. We were comfortable lending to help make that happen.
As you’ll know, it’s getting increasingly difficult to get on the property ladder these days, so we were delighted to help someone to do so, thanks to a loan where their father was guarantor.
What’s the application process?
We deliberately keep things simple. Our short (just four pages) application form has all the information that we need upfront for a decision in-principle. We can send you the relevant form or you can download it from our website. Once this is sent to us, our senior team and credit committee carefully consider each proposal and, if successful, give a decision in-principle within 24 hours, quickly followed by issuing terms.
We are thrilled to be able to offer our services in Jersey and can’t wait to help. Our friendly team are ready and available to chat in person to assist with the whole application.
