I recall an incident involving an HS748 that suffered an engine fire at lift off somewhere in UK and the captain made the instant decision to bunt over and land straight ahead on the remaining runway length. It was fortunate that he did because the fire was so severe I believe the aircraft was burnt out very soon after everyone escaped. Taking his time to climb out and casually identifying the problem when above 400 ft then setting about fighting the fire, would have been a deadly mistake.