Remortgage on a Buy to Let to raise capital



Our client was looking to remortgage his buy to let property that he had recently renovated (and never actually let) to capital raise for a deposit on a new buy to let property. The main issues were:

  • the client does not own a residential property
  • the large amount he was looking to raise
  • the high level of rental income required to cover the monthly interest payments
  • the possibility of rental voids, because his income (£50,000pa on a self-employed basis) would not be sufficient to cover the monthly repayments at this loan amount


With the property valued at £2m and the current loan £650,000, we negotiated a new loan of £1m, raising £350,000 capital. One particular lender was prepared to offer a competitive priced mortgage based on the circumstances above.


© Private Finance Limited, 2019. Private Finance provides independent mortgage advice and arranges individual mortgage solutions for clients. Private Finance is a trading style of Private Finance Ltd, 29 Lincolns Inn Fields, London, WC2A 3EG, registered in England no. 3855776 and its Appointed Representatives. Private Finance Limited is authorised and regulated by the Financial Conduct Authority (FCA registration number 310566).

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I didn't expect Conor at Private Finance to be able to find a mortgage solution for my circumstances. I was wrong. I now have a mortgage exactly suited to my needs. Suffice to say I am very pleased with the service provided by Private Finance and Conor in particular. I would have no hesitation in recommending their services to others.
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