Capital Raising on BTL 30 October 2009 at 9:45PM in Mortgages & endowments 2 replies 686 views

chambta

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.

herbiesjp

Yes - as long as the new mortgage amount is within LTV limits and rental coverage

chambta

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.