The £568,750 loan was secured against the main UK residence of a non-dom client who wanted to expand his property portfolio.

Sunny Panwar from Kind Commercial referred the loan to Borro after other lenders’ strict submission requirements left the client unable to get funding in time.

Claire Barrington-Jones, director of sales at Borro, said: “We applied for regulation so we could bring the same offering of speed and simplicity to a broader market.

“Our underwriting and sales teams are dedicated to being straightforward and fast for all cases.

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“It doesn’t matter if they are regulated or unregulated.”

Borro claimed that other lenders struggled to move at the necessary pace due to the complexity of a non-dom client seeking a regulated loan.

Using other lenders would have meant waiting for the client’s bank to provide a Mortgage Offer Letter, thus wasting valuable time.

Sunny added: “After being let down by another lender at the last minute [for] reasons that could have been avoided at an earlier stage in the process, I was so pleased that Borro were able to support me with this challenging case.

“Not only was it regulated, but [for] a non-dom too. 

“Harriet [Smith, business development manager at Borro] and the rest of the team managed everything perfectly as usual and most importantly we met the deadline dates and have a very happy client.”