Name: Buy To Let Remortgage Secured
Rating: 4.94 (156 reviews)

Mr and Mrs were looking to secure a buy-to-let remortgage for their property, to secure a new rate of interest but also raise capital to clear unsecured debts.
They were looking to secure a £380k mortgage at 55% LTV.
This was a ‘Remortgage and Capital’ raise case

Mr was newly self employed and could not yet evidence his income by way of a tax return. Mrs was in in an employed roles but her income was not high enough to support any periods where their buy to let property was unoccupied. The clients also did not own their current residential property which fell out of several lenders rules.
Many lenders were not comfortable that any periods of rental voids could be covered by just Mrs employed income.
The clients current deal was about to expire, and we did not want the clients to revert to the variable rate.

A BTL lender with no minimum income requirements, who assessed the application purely on whether the rental income would cover the future mortgage payments.
A high street lender with no minimum income requirements was eventually used

The clients achieved a competitive rate of interest before their current deal expired.
The new mortgage payment was significantly less than they were currently paying on their existing mortgage and unsecured credit commitments combined.

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Buy-to-let remortgage secured for couple also looking to raise capital for unsecured debts