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Capital Raising on BTL

chambta
chambta Posts: 2,770 Forumite
Part of the Furniture Combo Breaker
in Mortgages & endowments
Are there lenders who will capital raise on BTL property for a deposit for on residential purchase? A friend has asked me but I know the bank I work for will only allow the cash raising to be used on permanent home improvements on the BTL property or as a deposit for another BTL purchase.

Thanks.

Comments

  • herbiesjp
    herbiesjp Posts: 8,499 Forumite
    Yes - as long as the new mortgage amount is within LTV limits and rental coverage
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • chambta
    chambta Posts: 2,770 Forumite
    Part of the Furniture Combo Breaker
    herbiesjp wrote: »
    Yes - as long as the new mortgage amount is within LTV limits and rental coverage

    Which lenders are they? RBS group BTL mortgages are no use in this respect.
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