We secured a £490,000 consumer buy-to-let mortgage using projected rental income to repay an existing bridging loan, helping the client avoid additional interest and stabilise their investment despite no tenancy in place.
Our client owned a residential property that was mid-conversion into a buy-to-let (BTL) and had an outstanding bridging loan that needed to be repaid within a tight deadline.
As the property had not yet been let, there was no rental income in place to support a traditional affordability assessment. Many lenders were unwilling to consider the case without a tenancy agreement, and the client’s personal income alone was not sufficient to meet standard consumer BTL mortgage criteria.
We worked closely with Together, who were able to take a pragmatic approach by assessing affordability based on projected rental income, supported by a professional valuation.
This flexible underwriting allowed us to secure a £490,000 1st charge consumer buy-to-let mortgage, enabling the client to fully repay the existing bridging loan, avoid additional interest and fees, and move forward with their investment strategy.
This case demonstrates how specialist buy-to-let mortgages can provide effective solutions where properties are in transition and standard lending criteria cannot be met.
