We secured a £69,000 second charge BTL mortgage at under 70% LTV to fund improvements to a portfolio landlord’s property. By avoiding early repayment charges and the need for a valuation, we delivered a cost-effective solution designed to increase the property’s future rental income.
Second Charge BTL for Property Improvements and Rental Growth
We recently arranged a £69,000 second charge buy-to-let mortgage for an experienced portfolio landlord looking to carry out improvements to another property within their extensive portfolio.
The investment was designed to enhance the property and ultimately increase its rental income, supporting the client’s wider portfolio strategy.
The client’s existing mortgage was subject to early repayment charges, making a full remortgage an expensive option. A further advance had also been declined by the existing lender, leaving the client looking for an alternative way to raise the capital required.
Working closely with Scroll Finance, we sourced a second charge BTL solution at under 70% LTV. Importantly, Scroll were able to offer the client the lowest available rate for their circumstances, with no early repayment penalties and no valuation required.
Avoiding a valuation helped keep the overall costs of the transaction down, while the absence of penalties provided the client with greater flexibility around their future borrowing.
The solution was structured around the client’s specific requirements, providing the funds needed for the improvements while allowing them to retain their existing first charge mortgage.
A huge thank you to Scroll Finance for their seamless process, clear communication and support throughout the case. Their flexible approach helped us deliver the right outcome for the client while keeping costs and timescales under control.
