Buy-to-Let Secured Loans

Buy-to-Let Secured Loans are an alternative way of borrowing money on a Buy-to-Let property that you already own.

A Secured Loan is also known as a Second Charge mortgage. The idea being that the Buy-to-Let property you already own has a Buy-to-Let Mortgage secured on it (First Charge) and any subsequent borrowing added to it being the Second Charge or Secured Loan.

To find out more, contact us today to see if a Buy-to-Let Secured Loan is the best option for you.

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Author: Carl Shave - CEO and co-founder
Last updated: 21 Nov 2024

Why would you take out a Buy-to-Let Secured Loan?

A Buy-to-Let Secured Loan is usually taken to raise extra funds on top of any borrowing you may already have with your current lender. These extra funds can be raised to debt consolidate, purchase more investment property or to even improve or refurbish any existing properties you may have. There are a number of reasons why you may need the extra funds.

There is no guarantee that it will be possible to arrange continuous letting of the property, nor that rental income will be sufficient to meet the cost of the mortgage.

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Buy-to-Let Second Charge

If you are looking to invest in more properties to increase your current property portfolio, consolidate debts or need money for home improvements, then a buy-to-let secured loan might just be the right financial option for you.

Buy-to-let secured loans are a quick and effective way raise cash deposits to help towards purchasing new buy to let properties, by using the assets that you already own. Just Mortgage Brokers can provide you with the financial guidance and detailed information you need to find out how you can make the most of a secured loan.

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Are Buy-to-Let Secured Loans more expensive than a standard Buy-to-Let mortgage?

Buy-to-Let Secured Loans will usually be more expensive than a standard Buy-to-Let Mortgage (first charge) and any associated fees will also usually be higher. Most people will use a Buy-to-Let Secured Loan if they are already tied in with a product with their current lender and breaking out of the tie in will be quite costly in Early Repayment Charges. In other instances, a Buy-to-Let Secured Loan lender may be willing to lend a larger loan than your current lender is willing to lend as additional borrowing.

Buy-to-Let Mortgages

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