Buy To Let Secured Loans
Buy To let (BTL) loans were previously under served, with a lack of competition meaning prime customers in particular had not been served well. With so many property investors and accidental landlords still having mortgages taken out pre credit crunch, the first charge BTL mortgage products available today often cannot compete with these historical mortgages, so there was a massive need for a low rate second charge alternative.
It is therefore great news that today not only is there a multitude of second charge BTL lenders but there is also real competition that has not only driven interest rates down but seen Loan to values (LTVs) increase with rates from as low as 5.45% above bank base rate and LTVs as high as 85%.
Although often still seen as a niche product BTL secured loans are becoming an increasingly popular way for landlords to raise money on their property portfolios without disturbing the current mortgage arrangements. If you need to raise money quickly and your current BTL mortgage is tied in with high exit fees or is currently on very low rates then a BTL secured loan could very well be the answer.
BTL secured loans up to £150000 , very competitive rates on offer, Available to employed and Self employed applicants , properties in England , Scotland and Wales , HMO’s Student lets and portfolios .Simple 120% rental coverage of mortgage and new loan payments , if this fails then an income and expenditure test can be used.
Second Charge BTL finance can be used for debt consolidation, home improvements, and as an alterative to short term bridging finance or to purchase another property.
So if you are a landlord or someone who has a second property and you are looking to raise finance against it then look no further we would be happy to arrange this for you.
For more help and advice please do not hesitate to contact us @HoskinHomeLoans
Kind regards Ian
Hoskin Financial Planning Ltd is authorised and regulated by the Financial Conduct Authority number 613005. The guidance and/or advice contained in this website is subject to UK regulatory regime and is therefore restricted to consumers based in the UK. Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.
