RealRec is delighted to be working with a highly respected, rapidly growing property focused bridging and development lender in the City of London, in a brand new luxury office.
On their behalf, we are looking for an experienced underwriter to join their extremely successful and well respected team.
This is an exciting opportunity for someone looking to be an integral part of a very ambitious, hardworking and entrepreneurial team, where you can grow and develop with the company. You will become familiar with and master the multisector skills and knowledge that are needed to effectively process, analyse and make recommendations for any particular loan.
Roles and responsibilities:
- Prepare and/or review Preliminary Offer Letters
- Send out preliminary questionnaire to Borrower and ensure full and detailed replies are received at an early stage
- Request legal, valuation and project monitor quotes from external professionals from the relevant panels
- Ensure relevant external professionals are instructed/engaged in writing, appointments are made for their site visits and their fees are paid by the Borrower
- Ensure reports from lawyers, valuers and project monitors are received on time
- Follow up on any recommendations that are made by lawyers, valuers and project monitors and ensure that these are done in a timely manner
- Ensure appropriate buildings and construction related insurances are in place
- Prepare Preliminary Credit Paper – this is both an internal document that is used to make a preliminary analysis of the transaction, as well as an external document that is provided to investors.
- Review, analyse and raise any further supplementary questions regarding reports received from lawyers, valuers and project monitors
- Carry out internal desktop valuation study
- Carry out full due diligence and analysis on borrowers, transaction, development and exit strategy
- Review loan agreement, security documents and corporate ancillaries and suggest any amendments to lawyers
- Prepare Final Credit Paper incorporating all internal and external analysis carried out, highlighting risk areas and compliance with credit policy and notes to asset management
- Assist with investor reporting, provision of information and ensuring that investors are satisfied with the terms of the transaction
- Deal with any questions/queries from Principals and ensure credit committee approval of transaction
- Deal with completion of the loan transaction and handover to asset management team
-At least 2/3 years’ experience working in bridging and development finance
-Degree with a 2.1 or above
-Ability to form good relationships with key stakeholders and third parties
-A solid understanding of FCA regulation
-Robust and comfortable working towards strict deadlines
-Close attention to detail
Our client are offering a very competitive salary package circa £40k – £80k + generous package. Please note we would consider more for outstanding candidates.
If this role is of interest please contact Adam @ realrec.co.uk or call on 0203 911 1702
If you do not hear back within two weeks, please assume that you have been unsuccessful on this occasion, but we will retain your details for future roles.