Our client sought to raise funds against one of their buy-to-let (BTL) properties to invest in further BTL opportunities. Unfortunately, their first charge lender declined the application for a further advance, and early redemption charges on their fixed-rate mortgage were prohibitively high.

Exploring a second charge loan seemed like a viable alternative, but the rental income from the security property did not meet the affordability assessment. Undeterred, we identified a solution by leveraging net surplus income from three other properties in the client’s portfolio.

This approach allowed our lender to support the affordability assessment, enabling the client to secure the necessary funds. As a result, they successfully completed the purchase of a new BTL property, expanding their investment portfolio without incurring high early redemption charges.