The borrower, a foreign national with permanent right to reside in the UK, needed to release equity from their one-bedroom flat in south-west London, valued at £1.85m, to complete a property purchase in Montreal, Canada.

Given the low LTV, Arc and Co and United Trust Bank (UTB) were able to speed up the process by utilising an AVM.

The transaction was completed in three weeks, despite  international wealth verification complexities.

Recognising the time sensitivity of the client's situation, Gareth Briggs, head of UK residential mortgages at Arc & Co (pictured above) and UTB managed the necessary verification process to allow the application to proceed smoothly.

Gareth further arranged for the client's existing lawyer, who had handled the original property purchase, to manage the refinancing legal work.

The £770,000 loan was secured for a 12-month term.

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Gareth commented: "This case demonstrates the importance of addressing potential technical issues early in the process, especially when dealing with international clients.

“By engaging with the lender’s compliance team and leveraging the client's existing legal relationships, we were able to deliver a swift solution, enabling the client to proceed with their purchase as quickly as possible.”

Nick Warren, BDM of bridging at UTB, said: “Gareth provided us with all the information we required early on to enable us to assess if we were comfortable with the borrower’s source of wealth.

“This allowed the speedy execution of the transaction, and we were delighted to assist the borrower in completing their Canadian purchase.

“Working collaboratively with knowledgeable and experienced brokers like Gareth enables the whole process to flow quickly and seamlessly, and we look forward to assisting Gareth and the Arc & Co team with more bridging deals in the future.”